Resource Partner: Property Tax Partners

Established in 2006, Property Tax Partners is a Texas-based tax consulting organization, serving clients nationwide. They help manufacturing companies maximize their bottom line by minimizing their commercial and industrial property tax liabilities. PTP negotiates significant value reductions in real estate, business personal property and mineral assets, ensuring that their clients only pay taxes on fair and minimized market values, while maximizing eligible tax exemptions.

Do you lease your facility? What does property tax mean to you if you don’t own real estate?
It’s not just about real estate! Many business owners and their teams mistake property tax as being primarily related to their leased or owned real estate. However, quite a few states tax business personal property and inventories – including Texas – and these are areas where PTP’s knowledge and expertise results in significant taxable value and tax liability reductions.

As a manufacturer, your equipment (which is subject to property tax!) suffers wear and tear from consistent use. PTP, as part of its process, conducts site visits to analyze equipment condition, and ensure the physical, functional and economic conditions are reflected in valuations. Do you have retired equipment or ghost assets on your books? Part of PTP’s process is to identify these ghost assets and eliminate them from your annual reporting process.

How does PTP have such a breadth of experience?
Their service team consists of attorneys, engineers, licensed property tax consultants, CPAs, valuation experts and process improvement professionals. Their professionals have worked with government agencies and jurisdictions at the local and state level for 15+ years, with a knowledge base that is respected by jurisdictions and industry experts.

When partnering with PTP, they will:
• Reduce internal time and expense related to property tax issues.
• Minimize assessed values through consulting and appeals for real and personal property.
• Support internal tax, accounting and operations personnel through the annual property tax process.
• Provide a qualified, professional and ethical external property tax representative to appear before assessing authorities.
• Work to settle client appeals informally each year, avoiding the need for contentious ARB or costly litigation disputes.
• Provide an experienced local partner for minimizing property tax liability, while also communicating and implementing property tax planning and strategy objectives within the finance, supply chain, and operations organizations.

PTP has experience across a variety of light and heavy manufacturing industries, including meatpacking, food processing, bottling, oilfield services, refining and petrochemicals and other manufacturing segments.

One of PTP’s manufacturing clients recognizing a 78% real property value reduction, equating to $99 million value reduction in one year.

Their process begins before a return is filed or a value notice is received and continues through informal negotiation, administrative appeals, and litigation, when necessary. They are a full-service, one-stop property tax solutions firm.

To learn more about how to reduce your property tax, contact Kate Strittmatter, PTP Managing Director – Business Development, at 832-476-3593.

PTP was a proud sponsor of the DCMA Summer Conference in July, and is looking forward to sponsoring the 39th Annual Golf Tournament in September.

Featured Member

Edward Jones

Edward Jones is a financial services firm that offers personalized advice and solutions for individual investors and small business owners.