Guiding Clients Through Property Tax Turbulence
In his latest piece in Accounting Today, Dave McGuire discusses the increasing pushback on property taxes across the country.
In November 2024, multiple states including Arizona, Florida, Georgia, New Mexico, Virginia and Wyoming had ballot initiatives passed designed to lower property taxes. Now, Florida lawmakers have taken it one step further by proposing to eliminate property taxes altogether. This begs the question of whether this is feasible, and if so, how would states generate revenue without property tax revenue?
David McGuire is a leading expert on cost segregation, fixed assets and depreciation law and a co-founder of McGuire Sponsel. McGuire continues to grow McGuire Sponsel’s national presence in cost segregation and depreciation.
He is the primary resource for alliance firms in regards to how tax law affects depreciation. His knowledge in determining asset costs and classifications has held up against IRS scrutiny and has built the firm into a trusted industry resource.