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| Acid Test for Property Tax Assessment Appeal of Fixtures, Machinery, and Equipment in a Special-Purpose Business (150311N) |
Course CPE: 2 hours
Field(s) of Study: Accounting–2 hrs
Program Level: Advanced
Prerequisites: Good knowledge of topic and experience in the field. Advanced level programs are often appropriate for seasoned professionals within organizations; however, they may also be beneficial for other professionals with specialized knowledge in a subject area.
Advanced Preparation: None
Delivery Method: Self-Study
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Item
Number: 15PBV0311
Shipping Weight: 0lbs. 0oz. |
| Price:
$147.00 |
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Recording Date: February 11, 2015
Presenter: Stephen Clark
Program Description:
The presenter will discuss an "acid test" to help owners of special purpose properties quickly evaluate the potential of a successful property tax assessment appeal. Here it is: Most businesses valued at $1 million+ (not "main street" flower shops) sell on multiples of EBITDA and generally four to six times. Assessors usually assess fixtures and equipment based on reported costs and give absolutely no economic analysis of true value unless forced to do so.
Valuators can value the entire company and then examine the assessed value of the fixtures, machinery, and equipment to perform a quick set of tax appeal success. In struggling businesses, the assessed value of machinery and equipment can be two times the value of the entire company; all of the EBITDA analysis excludes real estate assets and assume rent is being paid by the owner of the business.
After completing this course, you will be able to:
- Identify and implement the "acid test" to help their clients evaluate if their fixtures, machinery, and equipment are over assessed
- Determine whether or not the property tax assessment is realistic
- Determine and critically evaluate tax-assessment bills
For more information regarding refund or concerns, please contact our offices at (800) 677-2009.
The Consultants’ Training Institute (CTI) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
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