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Property Tax Overview

Property tax is a tax paid on property owned by an individual or other legal entity, such as a corporation. Property can be both real property (e.g. land, buildings, etc.) and personal property (machinery, equipment, etc.).

Often, people are overpaying property tax bills. This can be due to a number factors such as economic influences, overreporting number and cost of assets in a business, misreporting intangible or non-taxable assets, and miscalculation of asset obsolescence. McGuire Sponsel’s property tax experts can help identify these factors and prepare an appeal to generate the largest reduction in tax liability. Often, property tax services create significant savings for property owners over multiple years.

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Interested in a complimentary property tax review for one of your clients?

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Experience & Philosophy

Transparency is at the forefront of McGuire Sponsel’s approach for property tax. Our team can provide savings for a wide range of organizations from small businesses to large corporations. We leverage decades of experience to prepare the best possible appeal that will produce maximum savings. Our experts are results focused and tailor each appeal specifically to the property owner to ensure that we are producing highest results possible.

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Our Process

Our team will advise our CPA partners and their client at all phases of the appeal. We begin by communicating and assisting with due diligence and that continues through all parts of the process, including communication of the lien date, appeal window, appeal process, and ensure fair and accurate tax valuation. From the initial review, our team advises based on what is best for the client whether it means settling is the best option or if we recommend continuing to the hearing level. Our team of experts have significant experience working in states all across the country and will be forthcoming about realistic expectations regarding any appeal.

What Makes a Great Prospect

Property tax services are recommended for clients who are paying at least $50,000 in property tax. If you or your clients meet that threshold, our team can walk you through additional information needed to proceed and will begin the process once all information is received.

Podcast Feature: Ken, TJ, and Dave discuss Property Tax

In this episode, Principal within our new Property Tax Services, Ken Zdrok, joins Managing Shareholder TJ Sponsel and Shareholder Dave McGuire to introduce property tax. They highlight key property tax targets, overview important dates when it comes to the property tax calendar, and discuss McGuire Sponsel’s unique approach to supporting our alliance partners. Listen here.

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If you or your clients are paying $50,000/year in property tax, please connect with us to explore an appeal.

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Watch Our Webinar: Real Estate Tax Issues to Consider for 2024

Dave McGuire and Ken Zdrok discuss real estate tax issues to consider for 2024.

As 2023 comes to a close, businesses are looking for planning opportunities for 2024. An uncertain economic environment complicates this as it relates to real estate decisions. In this webinar, Dave McGuire and Ken Zdrok explore how many offices have still not recovered from pandemic work from home initiatives, interest rates are slowing transactions, and other external factors are affecting business decisions.

Dave and Ken discuss ways to lessen this risk by managing federal tax on real estate as well as local property tax issues. We will also overview how changing economic decisions can affect property tax valuations, as well as how changing use in real estate can affect depreciation deductions.

Watch the recording.

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