Property taxes are a significant annual expense for businesses. In 2018, businesses paid more than $297 billion in property taxes in the United States alone. Because property taxes are calculated by the taxing jurisdiction rather than the business as in other tax scenarios, there’s a clear need to review valuations, as this can amount to potentially significant tax savings.
While reviewing and managing property tax data at each step is critically important, many organizations don’t employ a comprehensive property tax management strategy. Often, this is due to the volume and complexity of data, reliance on manual, time-intensive processes, and lack of integrated software systems, which ultimately hold organizations back from maximizing their portfolio value.
We partnered with IPTI, the International Property Tax Institute, to better understand the barriers that organizations face in developing effective property tax management strategies. In this white paper, we explore key areas that demonstrate how an optimized strategy can help maximize portfolio value:
With a standardized, repeatable process for managing real estate property taxes, organizations can maximize asset value and improve their bottom line. To learn more, download your copy of Redefining Property Tax Management.
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