Property Tax Return Preparation

Collect Property Information: Gather detailed information about the property, including ownership details, usage, and physical characteristics
Review Property Records: Review historical property tax records and prior assessments to ensure accuracy in the current year’s return
Prepare Property Tax Returns: Accurately complete and file property tax returns based on the current year’s assessments and applicable regulations
Calculate Property Tax Liability: Determine the property tax liability by applying the assessed value to the applicable tax rate
Verify Exemptions and Deductions: Ensure all eligible exemptions and deductions are applied to reduce the property tax liability
Submit Returns to Authorities: File property tax returns with the appropriate local, state, or municipal authorities within required deadlines
Track Filing Deadlines: Monitor and adhere to property tax filing deadlines to avoid penalties and interest
Review and Correct Errors: Identify and correct any errors or omissions in property tax returns before submission
Prepare Supporting Documentation: Compile and organize supporting documentation required for property tax returns
Respond to Tax Authority Inquiries: Address any inquiries or requests for additional information from tax authorities regarding property tax returns

Property Valuation

Conduct Property Assessments: Perform onsite assessments to evaluate the condition, features, and market value of the property
Analyse Comparable Sales: Review and analyse comparable property sales in the area to establish a fair market value
Determine Property Value: Use valuation methods such as the cost approach, income approach, or sales comparison approach to determine the property value
Prepare Valuation Reports: Document and prepare detailed property valuation reports to support property tax filings or appeals
Review Property Records: Analyse property records, including prior assessments and appraisal reports, to ensure accuracy in valuation
Consult with Appraisers: Collaborate with professional appraisers to obtain accurate and reliable property valuation
Evaluate Property Improvements: Assess the impact of recent improvements or renovations on the property’s market value
Identify Property Tax Assessment Errors: Detect and report any errors in property tax assessments that may affect the valuation
Maintain Valuation Records: Keep detailed records of property valuations and supporting documentation for future reference
Update Valuations Annually: Regularly update property valuations to reflect changes in market conditions or property status

Property Tax Appeals

Review Assessment Notices: Analyse property tax assessment notices to identify discrepancies or grounds for appeal
Prepare Appeal Documentation: Gather and prepare necessary documentation and evidence to support the appeal
File Property Tax Appeals: Submit formal appeals to the appropriate tax authority or board of review within specified deadlines
Represent Clients in Appeals: Act as a representative during appeal hearings or meetings with tax authorities
Develop Appeal Strategies: Create strategies to effectively present the case and argue for a reduced assessment
Negotiate with Tax Authorities: Engage in negotiations with tax authorities to reach a favourable resolution or settlement
Respond to Appeal Outcomes: Address and manage outcomes of appeals, including any required follow up actions or adjustments
Track Appeal Deadlines: Monitor and adhere to deadlines for filing and responding to property tax appeals
Maintain Appeal Records: Document and maintain records of all appeal activities, correspondence, and outcomes
Provide Appeal Recommendations: Offer recommendations and advice on whether to proceed with an appeal based on case analysis

Tax Exemptions and Incentives

Identify Eligible Exemptions: Determine eligibility for various property tax exemptions based on property use, ownership, and local regulations
Apply for Exemptions: Prepare and submit applications for property tax exemptions or abatements to the appropriate authorities
Evaluate Incentive Programs: Research and assess available property tax incentive programs that may benefit clients
Prepare Incentive Applications: Complete and file applications for property tax incentives, ensuring compliance with program requirements
Monitor Exemption and Incentive Status: Track the status of exemption and incentive applications and renewals
Review Eligibility Requirements: Regularly review and update eligibility requirements to ensure ongoing compliance and benefit
Advise on Tax Savings Opportunities: Provide guidance on maximizing property tax savings through exemptions and incentives
Respond to Exemption Queries: Address any questions or issues raised by tax authorities regarding exemption or incentive applications
Assist with Compliance Reviews: Help clients prepare for compliance reviews related to tax exemptions and incentives
Update Records for Changes: Update records and applications to reflect any changes in property status or ownership that affect tax benefits