Independent Tax Group
Jurisdiction Profile ITG consultants develop and maintain taxability matrices for each assessing jurisdiction. Favorable rulings are compiled from various sources including state statutes, department of revenue regulations, court decisions, as well as published and unpublished local assessor policies. The discovery and utilization of favorable assessment rules may result in tax savings.
Fair Market Value Assessment Basis ITG analysts review assets that qualify for potential fair market value adjustments. Assets that have been identified as exhibiting physical, economic or functional obsolescence may present an opportunity to accelerate the assets’ depreciation for property tax purposes.
Administrative Appeal Services ITG analysts review the assessor’s final values and file administrative assessment appeals when, in the opinion of ITG, it is warranted. ITG analysts will prepare the documentation required and present it to the appropriate agency.
Exempt Assets ITG analysts review assets that could qualify as exempt equipment.
Site Visit Where appropriate ITG consultants will tour the facility and interview personnel to verify the description, categorization, use and condition of the taxable assets. Interviews are used to discover unrecorded disposals, unrecorded transfers, and obsolescence among other similar adjustments.
Asset componentization ITG analyzes lump sum assets and converts them to detailed asset records. The practice of capitalizing groups of related assets as lump sums frequently results in property tax over payments. The ITG componentization methodology is a sophisticated and powerful tool used to convert lump sum assets into detailed assets for tax minimization purposes.