Real Property Tax Consulting
A large metal manufacturer with a 1.4 million square foot facility engaged INTAX to appeal their real estate assessment in Kentucky. We worked with county officials and informally achieved a $22,000,000 Value Reduction (52%).
Personal Property Tax Consulting
A Michigan apparel manufacturing company engaged INTAX to minimize their real and personal property taxes. Among other things, we discovered the client was not taking advantage of an exemption. Also, M&E at several of their facilities was not being reported favorably. Total annual savings amounted to $1,100,000.
Property Tax Audit Representation
INTAX was engaged by a national auto parts retailer to appeal the results of a personal property tax audit. We discovered several errors and misclassifications by the auditor. We achieved a savings of $185,400, a 64% reduction from the original bill.
Property Tax Audit Representation
INTAX saved an equipment manufacturer $2,969,000 by successfully representing them during a California property tax audit. During the audit, we disputed a number of issues including the taxation of R&D equipment, service spares and leasehold improvements. We also succeeded in getting more favorable useful lives for depreciation of high-tech assets.
Property Tax Audit Representation
A Kentucky metal manufacturer engaged INTAX to appeal an audit that had resulted in tax bills of over $1,900,000. INTAX was successful in arguing that the audit misclassified certain manufacturing assets and improperly calculated taxable supplies and inventories. On behalf of our client, we settled the audit with a $103,000 payment.
Real Property Tax Consulting
An aggregate client engaged INTAX to appeal a 590 acre tract of land in Dade County, Florida. The raw land was to be developed into a quarry. We formally protested to the Special Magistrate, and achieved a 29% reduction resulting in a refund check of $117,000.
Real Property Tax Consulting
INTAX appealed a large retail property in Lake County, Indiana. We discovered material errors in the county’s cost approach for improvements and issues with their land valuation. The 42% assessment reduction resulted in first year savings of $201,000.
Real Property Tax Consulting
A West Virginia casino and hotel resort engaged INTAX to appeal their real estate assessment. We negotiated a $34,360,000 reduction in the county’s assessed value. We used an income approach to quantify economic obsolescence, the county then applied that to their cost approach. The resulting savings was $711,000 per year.
Real Property Tax Consulting
INTAX was engaged to appeal the value of an office building in Scottsdale, Arizona. The property was a newly constructed building on which our banking client foreclosed. We formally appealed the real estate value and won a $3,944,000 value reduction. This 33% reduction resulted in $58,700 in tax savings.
Real Property Tax Consulting
INTAX was engaged by a Washington bank to appeal a housing development property in Ogden, Utah. Our approach valued the property by discounting future cash flows using the established absorption rate of lot sales. We won a $5,440,000 reduction at the county board. This represented a 31% reduction.
Property Tax Compliance
An industrial client purchased a company in Florida with several operating facilities. We worked with multiple counties in an effort to use historic cost rather than a purchase price allocation. Our efforts saved the client approximately $1,000,000 per year since the acquisition.
Personal Property Tax Consulting
A coal company with operations throughout the Appalachian region engaged INTAX to minimize their property taxes in multiple states. By correcting misclassified assets, properly reporting inventories and being granted economic obsolescence, we saved the company $415,000 in annual taxes.
Personal Property Tax Consulting
INTAX appealed the personal property tax assessment of a high-tech manufacturer in Boca Raton, Florida. During informal meetings with the county’s appraiser, we negotiated an $18,400,000 assessment reduction. The reduced assessment saved our client over $380,000 per year.
Personal Property Tax Consulting
INTAX saved a wireless company headquartered in Mississippi over $1,000,000 in property taxes by identifying equipment located at other facilities in states with lower tax rates or no personal property tax, utilizing accurate useful life tables, eliminating ghost assets and securing Freeport Tax Exemptions.
Personal Property Tax Consulting
INTAX saved a long haul & metro ring fiber optic cable operator with assets in 21 states $1,241,000 by successfully advocating that deregulation, overstated demand and the development of an entirely photonic backbone for the optical internet dramtically devalued our client’s assets. This engagement yielded a 67% reduction in property taxes.
