Property Tax Administration

P.E. Pennington & Co., Inc. conducts the following activities when providing property tax services to our clients:

• Identify the owner’s opinion of value(s) and/or target value(s) for the tax year in question.
  
• Establish the method which would be the best approach to appeal the owner’s properties, i.e.: the cost, income, sales comparison or tax comparison approach. These approaches would be applied to real and business personal property.
  
• Collection of information from owner in order to
  prepare the most effective appeals for tax year in question.
  
• Identify and inspect assets.
  
• File required personal property renditions.
  
• Develop and refine arguments for valuation
  reductions.
  
• Prepare and file appeals with support
  documentation to the appraisal district and/or the
  appraisal review board.
  
• Assist in a support role in any property tax valuation litigation.
  
• Optional: Collection of tax statements for processing.
  
• Continual status and final reports on appeal and
  final determination.
  

Property Tax Appeals

There are four approaches to appealing Real and Personal Business Property. We will apply and tailor the approach that fits with your specific needs:

1. Cost Approach – Used with new construction for real property and business personal property.
   
2. Sales Comparison Approach – Compare like sales comparable properties to measure your property value. This approach would also be applicable for business personal property.
   
3. Income Approach – This method uses the property’s annual income and/or a pro-forma based on market trends and data to establish a value. This would apply only to real property appeals.
   
4. Uniform & Equal Approach – This method ensures that your property is being assessed fairly in comparison to other like properties. This method would applicable to both real and business personal property.