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    Practice Leaders

    Personal Property Tax

    Is your company paying too much personal property tax? Often companies fail to take advantage of state personal property tax exemptions and valuation adjustments, resulting in a larger tax bill than is necessary. Frazier & Deeter’s State & Local tax specialists can help identify and recover personal property tax overpayments. Our experienced team helps minimize your annual personal property tax.

    Property Tax Exemptions

    Some states provide business personal property tax exemptions for pollution control equipment. We can help you identify this equipment and seek refunds when applicable. But, more importantly; your company won’t continue to overpay each year.

    Manufacturers often have opportunities to decrease personal property tax, through issues of obsolescence or re-classifying assets.

    Economic Obsolescence

    Most states allow a value adjustment when a company’s manufacturing operations are negatively impacted by external factors. This loss in value can be caused by a slow economy, regulations, or changes in technology.

    Functional Obsolescence

    Most states allow a value adjustment when a company’s manufacturing facility has a poor design flow, or when there is overcapacity or excess operating expenses.

    Asset Classification

    Are your manufacturing assets properly classified? Manufacturing assets that contain a high percentage of software can often be moved to an asset category that has a shorter useful life saving your company personal property tax on a recurring basis.

    Frazier & Deeter’s team of State and Local tax specialists can help you identify areas of opportunity and pursue tax refunds. Our initial consultation is free of charge, so get started today by contacting SALT@frazierdeeter.com.

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