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Tangible Personal Property Taxes

A highly competitive business environment requires business owners to make significant annual expenditures in expensive capital equipment. Much of this equipment quickly becomes obsolete due to the emergence of new technologies, yet the tax assessments remain high.

How can I determine the true market value of my equipment?

The true fair market value of your equipment can only be determined by a physical inspection and/or an appraisal.


How do I know if my company’s tangible personal property is being fairly assessed?

The actual fair market value of the equipment is often significantly less than the assessment derived by applying the State promulgated depreciation tables to the original cost of the equipment.

  • All tangible personal property tax returns are reviewed and reconciled to the underlying fixed asset records. Exempt property is identified and the property classifications are reviewed. Leased equipment is identified and itemized.
  • The results of our tax return analysis are then reconciled to the County Property Appraiser’s assessment.
  • Each significant item of tangible personal property is analyzed and, if needed, independently appraised to determine the fair market value of the equipment.
  • Significant discrepancies between Savitar’s valuation and the County assessment are isolated, forming the basis for the valuation appeal.
 
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