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Our Services

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Personal Property Reverse Audits

Assessors may be overvaluing assets, taxing disposed items, assessing exempt assets, or even duplicating assessments by taxing assets as both personal and real property. They might also use incorrect depreciation schedules or overlook factors like functional or economic obsolescence. Our reverse audit team carefully examines these issues, identifying opportunities to correct past mistakes and ensure future assessments are accurate and beneficial.

Identify and extract “ghost” and exempt assets

Reclassify all assets to proper categories

Quantify and apply functional and economic obsolescence

Review the current and historical property tax returns as well as an in-depth analysis of the fixed asset ledgers

Conduct field work, consisting of site inspections, discussions with local personnel and obtaining the assessor’s work papers that are the basis for the assessment

Market research to gather the latest industry information and analyze market shifts, trends and issues

Extract any ghost or exempt assets and determine if assets are being taxed as both real and personal property

Correct any improper asset classifications as well as quantify and apply any functional and/or economic obsolescence that may exist

Amend the tax return or appeal the assessment to correct the assessment and taxes

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