Property Tax Reduction Program

Financial Recovery Services has partnered with the country's foremost property tax savings experts who have achieved successful results for hundreds of clients, including Fortune 100 corporations, significant private equity firms, and other major industry sectors.

Our 5-phase process could permanently reduce your property taxes on average 35% based on our track record. This property tax reduction program improves operating earnings and earnings per share. These reductions directly impact your bottom line.

Competitive Advantage

Our experts who are located in the field significantly contribute to successful initiatives. With more than 200 field resources in virtually all jurisdictions, we offer the widest coverage in our service sector. We have successfully overseen in excess of 6,000 major filings. For each client location, we prepare a customized matrix of savings diagnostics and work within the client’s existing service delivery model, assisting in-house resources and third-party service providers who primarily focus on the obligatory compliance functions.

Our Expertise in Personal Property Tax

Personal property tax, which is levied by 37 states, is a large fixed expense applied to all types of machinery and equipment, excluding real estate assets. This tax is levied regardless of your company's profitability at that location. Management may be unaware of the diverse strategies available for substantial and rapid reductions in this tax – often within six months. For example, even though your assets have little or no depreciated value on your books, an assessor will still value and tax the assets. Annual property taxes range between 1% and 2% of the book value of assets. Our track record proves that on average we can reduce these taxes by 35%. One client saved $50 million over three years, realizing close to a 50% reduction in its personal property tax bill. Uninformed corporations could be paying higher taxes than they otherwise should.

Our Expertise in Unit Assessments

All 50 states levy property taxes on utility assets (including railroads, telephone, cable, power plants, pipelines, and airlines). Frequently the processes used to levy these taxes leave the taxpayer at a disadvantage because they fail to lower assessments in order to reflect the industry's current challenges. As a result, taxpayers pay significantly higher taxes. Recently, the former CEO of the largest power generator in the US affirmed that after fuel, property taxes are the company's second largest controllable expense.

Our Expertise in Real Property Taxes

There is a need to ensure the accuracy of land and building assessments which form the basis of real property taxes. The recent economic downturn has had a severe negative impact on real estate values. When our analyses indicate that assessments are inaccurate, we will follow the prescribed local appeal procedures and monitor the process to ensure that the reductions are reflected in the tax payments, or refunds that result from these initiatives are received.

We firmly believe that our success depends on yours. We receive compensation only after we garner savings.