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Texas Property Tax Audit Consultants
Streamline’s forward-thinking, well-documented valuation cases consistently yield substantive tax savings. Likewise, our Property Tax practice values and represents billions of dollars in clients’ business, personal, and real property assets. Our appraisal processes are second-to-none: Streamline’s accredited appraisers constantly refine their methodologies to account for shifting technologies, new environmental regulations and contamination, economic obsolescence, and other factors shaping asset values. In short, we are the best because we invest in understanding our clients’ companies.
Our Texas Property Tax Audit Consultants Services Include:
- Compliance issues: Preparation and filing of freeport exemptions and tax abatement applications
- Consulting: Valuation analysis, negotiations, and more, with assessing authorities
- Pollution Control Exemptions, Tax Incentives: We pursue statutory exemptions for pollution control and recycling assets, plus tax incentives receipt for new investment or job creation
- Replacement Cost Studies: We will determine the current replacement cost of facilities and processes—especially as they pertain to shifting market conditions and burgeoning technologies
- Obsolescence Studies: Streamline will quantify functional and economic obsolescence, plus physical depreciation—a particularly “hot” topic (please see below)
- Cost Segregation Analysis: we can review any project costs to maximize federal tax benefits
- Purchase Price Allocation: We seamlessly allocate acquisition costs into their rightful categories
Why you need to consider economic obsolescence:
There are three principal components to depreciation: physical deterioration, functional obsolescence and economic obsolescence. When valuing personal or real property, we all recognize deterioration (wear and tear), and obsolescence (a decline in usefulness because of design or an inability to upgrade to serve current needs). Given our latest economic downturn—that began in 2006—depreciation’s third component is on the top of everyone’s mind: economic obsolescence (or value loss due to external factors). Economic obsolescence may be caused by reduced demand; increased competition; raw materials’ availability; inflation and/or deflation; less financing availability; new legislation; and environmental concerns, among other factors. In America, economic obsolescence is everywhere: larger cars and SUV prices have dropped dramatically in price (and demand) because of high gasoline prices, and concerns about the overall economy. Home prices have fallen off steeply due to harder-to-obtain financing and more volatile markets. The publishing and musical recording industries have been decimated as content is becoming readily available digitally, and online. All assets (personal and real property) associated with these industries and their suppliers and vendors have been hit with additional losses in value. This loss is much greater than any physical deterioration or functional obsolescence that is built into assessors’ “Percent Good” tables. Valuation experts can measure this newer, more dramatic loss (economic obsolescence) via techniques used in the income approach, market transactions, and the cost approach. It will be to your potential benefit to consult with one of our property tax experts, to see if you assessor has recognized the importance of this depreciation component in your property’s assessment. Valuation Services
Our Valuation Services associates are experts in all matters of property appraisal disciplines: real property, machinery, equipment, inventory, unit valuation, and more. These services are in strict compliance with the Uniform Standards of Professional Appraisal Practice (USPAP) of the Appraisal Foundation. Our services include: appraisal reports (for industrials), large property equity studies, depreciation studies, pollution control property use determinations, unit valuations, and more, for every industry.