We help the assessor distinguish between property tax value and your federal tax basis. Works to distinguish between tax value and federal tax basis to maximize tax savings.
A National Bureau client bought a paper company whose origins dated back several decades. Following the sale, the new owner (with the concurrence of the assessor) continued to file historical costs rather than its more recent acquisition costs. This resulted in a market value of over $25 million.
Informal negotiations with the assessor resulted in a revision of the reporting basis to reflect the more recent purchase of these assets. The resulting market value was less than $12 million, and the annual tax reduction exceeded $300,000. No appeal was necessary to gain this result, and our fixed fee was a fraction of what
would have been paid on a contingency fee basis.