|
 VALU TEC PERSONAL PROPERTY SERVICES
Valu Tec's personal property compliance reviews have taken on new meaning with the institution of our new software platform. This software enables us to provide an accurate, timely, and easy to read snapshot of your personal property liability. This technology then allows us to check and balance your review for accuracy. Through the software's advanced import capability it allows efficient electronic transfer of your data, saving you time and effort.
Pollution Control - Valu Tec just recently achieved a $41,000,000 Pollution Control Exemption for a paper mill located in Northwest Michigan. The process at the mill was very complicated and the air and the water process had to be segregated. This application required negotiations with the district engineers and the State Tax Commission. The tax savings achieved was approximately $868,000 for one year. Although our client will enjoy the tax savings over the life of the equipment.
Abatement - When applying for abatements, Valu Tec works closely with our clients, the local taxing authorities, and the economic development departments. We eliminate all questions and concerns prior to the local hearings. We are very experienced and have encountered many unique situations at various jurisdictions. For example, one city required improvements to the facility prior to the approval of the application. Through informal negotiations we arrived at an agreement with the city at a minimal expense to the client. Once again a positive relationship was maintained between the city and our client.
Real Property - Valu Tec's philosophy has always been to work well ahead of appeal deadlines. Our Senior Appraiser completed an appraisal for real property for a distribution warehouse in Ohio. Working well in advance of the appeal deadline, we met with the revaluation company and the local auditor. The assessment set by the State was very close to Valu Tec's value. Valu Tec's professionalism and experience was instrumental in delivering exceptional results in this case.
Personal Property - Personal Property Tax Law is never static. Valu Tec stays on top of these changes and keeps our clients informed through ongoing communication. Part of our personal property process is to verify prior assessments. Through a thorough review of a current client's assessments we were able to achieve refunds in the amount of $156,000. Our client is now aware of how to properly file their returns and how to achieve the maximum tax benefit.
Michigan Personal Property Reporting Update
|
