What Is Property Tax And How Do I Pay It?

What is property tax, and how is it calculated? Property tax is a tax levied by local governments on the property of individuals or businesses. It can take various forms, including real estate taxes based on the value of land and buildings and taxes on goods and services purchased. To calculate property taxes, local governments … Read more

Don’t Forget Physical Deterioration

Are Your Missing Physical Deterioration? The most apparent elements involve physical deterioration, which can be significant enough to lower an asset’s market value. The Mass Appraisal and Equalization Systems consistently miss this critical aspect related to property tax appeals because they don’t take into account how old buildings might have suffered wholesale renovations or replacements … Read more

7 Simple Steps To Appeal Your Property Taxes

7 Basic Steps To Appealing Your Property Taxes When you’re considering buying a house, the first thing to do is to determine if the property’s assessed value might be too high. You can find this information by looking up your county assessor on Google.  Don’t forget about the assessor when looking at properties that might … Read more

2022 Washington State Property Tax Assessments

Washington State Counties Mailing New Assessed Value Notices It’s that time of year again. You will be receiving your 2022 property assessments from the county. Unfortunately, the hot property market coupled with record inflation has resulted in some of our clients seeing 20-40% increases in their assessed value – and a corresponding expected massive increase … Read more

Sales And Use Tax Audit Traps

Sales And Use Tax Audit traps

Common Sales And Use Tax Audit Traps Here’s a lesson in business management for you: taxes are important. When businesses forget to track sales tax on their products, they can end up paying more than expected – which could be devastating! One of the most common mistakes businesses make is failing to calculate sales tax … Read more

The 3 Most Common Personal Property Tax Reduction Opportunities

3 Personal Property Tax

Depreciation Versus Market Value Is Costing You Thousands The property tax code defines the valuation method for personal property as “market value.” However, most appraisal districts still assess your property on a depreciated cost basis, resulting in your overpaying every year – especially on software, technology assets, and office furniture. Three Common Mistakes There are … Read more

California Residents – Have You Factored In Prop 19 In Your Estate Plan?

California Prop 19

California Property Taxes – Have You Factored In Prop 19? What Is Prop 19? In California, property taxes aren’t as straightforward. There are more variables to consider, such as your established tax rate and the home’s assessed value. The Golden State has recently passed numerous laws that mandate property tax rules. The most recent was … Read more