Personal Property Tax & Real Estate Tax Audits
Are you overpaying property taxes? We can help reduce property taxes and get you a credit for overpayments!
NUR Is The Trusted Property Tax & Real Estate Tax Audit/Refund Company.
Every real estate owner (other than tax-exempt entities) must pay property taxes. The question many property owners should ask is: Am I paying more than my fair share of property taxes? Over the years, property taxes have escalated to become a significant part of business costs, often having a negative effect on a company’s bottom line. Billions of dollars are collected each year by taxing jurisdictions, often making property taxes the second-largest tax liability facing a company doing business today.
Real estate can often be mistakenly overvalued for purposes of annual property taxation. Property valuation is based upon a highly subjective estimate of varying factors such as age, physical condition, functional obsolescence, economic obsolescence, and general market conditions. Because of these factors, the chance of paying more than your fair share of property taxes is more probable than possible.
Our tax team professionals can reduce property taxes through business personal property tax appeal and audit defense. To challenge excessive property tax values is the most significant opportunity for property owners to increase their bottom line by reducing their fixed costs
Real Estate Tax Audits / Refunds
How much have you overpaid?
You will never know if you are overpaying on property or real estate taxes until you perform an audit. With our purely contingent based model, there is nothing to lose. Our team will handle the process from start to finish and give you peace of mind in knowing that your property and/or real estate taxes are 100% cost-effective.
To conduct a review, we will need:
- Most recent real estate tax bill
- Basic building information, such as building size, land area, etc.
- If a property is leased, a copy of the lease
- If a property is leased, an income and expense statement
*Certain industries may need to provide additional information for a thorough audit
Our Process:
- Analyze and review the assessor’s records in order to determine how and on what basis your real property is being assessed
- Analyze property values for errors
- Develop opinion of market value
- Present our documentation supporting an assessment reduction to the assessor or revaluation firm
- Appeal excessive tax assessment to the appropriate authority to assist the client in establishing the lowest possible assessment
- Attend the scheduled hearing to present supporting documentation
- Appeal to subsequent level, usually judicial, if appropriate
Personal Property Tax Audits / Refunds
How much have you overpaid?
Our audit is conducted offsite and is non-intrusive. If we identify an opportunity to reduce your tax bill, we will notify you and submit the necessary documentation to the assessor for approval. The assessor will review the information and make an adjustment to your next tax invoice. If the reduction in the tax bill is not as much as initially projected, we can evaluate appealing the tax assessment. With NUR, you will never pay a dime out-of-pocket for an appeal, so there is nothing to lose with our audit!
To conduct a review, we will need:
- Personal property tax bill
- Prior year’s fixed asset listing
- Prior year’s personal property rendition
*Certain industries may need to provide additional information for a thorough audit
Our Process:
- Review personal property tax returns to develop an understanding of past filing practices
- Perform an analysis of fixed asset records to ascertain procedures employed when reporting
- Identify assets that are no longer physically present and those which should be classified as real estate
- Identify assets misclassified for depreciation purposes
- Prepare amended returns, if appropriate, and file to appropriate jurisdictions
- Negotiate values with assessors
- Represent the client in audit proceedings
There are strict deadlines to meet for property tax appeals that vary by county. Our staff of property tax consultants have an extensive knowledge of state and local jurisdiction statutes enabling us to work effectively in virtually any community in the United States.
What will this cost?
There is ZERO Cost for NUR to conduct a real estate/property tax audit. If you decide to move forward, then we will simply share in the financial benefit we achieve for you. No risk, no obligation.
FAQ about Real Estate/Property Tax Audits
When should I perform an audit on my real estate tax bill?
Real estate tax bills are typically issued annually but it is never too early to perform an audit. The more time we have to prepare a compelling case to lower your real estate tax bill the better. When the tax bill is issued, many times you only have 30-60 days to file an appeal, so it is best to perform an audit before your next tax bill is released.
Will your team cover any legal fees if we have to appeal the real estate tax assessment?
Yes! If our team sees an opportunity to further reduce the assessment, we will cover 100% of the legal expenses associated with filing an appeal. Most real estate/property tax auditing firms will say that they do NOT cover so be sure to ask this question when evaluating other firms.