Ever had to consider an Ad Valorem tax appeal for your business? Business owners who provide independent equipment values researched by an experienced certified equipment appraiser are more successful in their tax appeal.
Case in point, an appeal for an injection molding plant, our equipment appraisal report discussed the global financial downturn of 2008-2010: an economy-wide event affecting all sectors of the machinery & equipment markets, including injection molding. In 2009 alone there was a 34%increase in bankruptcy filings over the prior year. A 78% reduction in the plastic injection machinery marketplace where for many types of machine tools, the Fair Market Value equaled the values being realized at well-publicized auctions. In short, values for most industrial commercial equipment tanked, but very few counties took the time to reassess values.
This kind of information presented in a clear, comprehensive, and well-researched equipment appraisal report can be the make-or-break tool in your tax assessment appeal process.
If you have questions about how a certified equipment appraisal can help save money on a business’ ad valorem taxes, give me a call, 1-800-536-7376.