Personal Property

When it comes to filing ad valorem tax returns, the problem with fixed asset accounting systems is that they are not designed for effective reporting of taxable assets.

The ability to eliminate or exempt items in existing books and records which can be reclassified is the key to reaching equitable assessments.

CTN specializes in this aspect as well. Our team of skilled personal property tax consultants can reclassify the unnecessary items in your existing books and much more.

Personal Property Procedures

  • Verify all county information with property owner (ex. Square footage, ownership, type of business, state of assessment, etc.)

  • Physical site inspection and pictures of property if necessary

  • Obtain information from either the property owner, CPA, Controller, or Office Manager (ex. IRS Return, balance sheet, asset lists, etc.)

  • Review all information to arrive at the depreciation value based on the county laws and procedures

  • File the rendition

  • File protest on accounts that are over assessed

  • Attend hearing

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