Leading Global Steel Manufacturer
Real Property Tax Advisors (RPTA) is a leader in the commercial property tax industry and the largest woman-owned property tax consulting company in the United States. We strategically partner with our clients, helping them develop proactive commercial tax risk management plans. Through our comprehensive knowledge of the commercial property industry which includes real estate, machinery and equipment, as well as our proven track record of delivering tax savings, we produce consistent and innovative value for our commercial clients.
Download Our E-Book: Strategic Risk Management for Commercial Property Taxes
Solving the Problem
Determining Fair Market Value of Complex Properties
By partnering with Real Property Tax Advisors (RPTA), the steel company was able to determine that the assessment did not accurately account for all forms of depreciation that could impact such a complex property. The assessment also did not take into consideration all the economic factors impacting the fair market value of the plant. Macro-economic factors that disrupted steel markets and reduced production were leveraged to support the case that the fair market value of the plant had gone down as a result. By incorporating commercial property tax as part of their overall risk management strategy, the company was positioned to quickly challenge the assessment quickly and ultimately save money.
Taxing authority's limited resources could not account for complex property
A leading global steel manufacturer, who has been in business for over 100 years, was simultaneously experiencing the negative impacts of a declining steel market, economic stress from canceled work, and obsolete machinery and equipment. Despite these challenges, the local taxing authority provided an assessment of their manufacturing plant, a 4.5 million square foot property on 100 acres with machinery and equipment over 60 years old, that was not in line with fair market value. With a declining market, lower production, and older equipment, the situation was ripe with opportunity for commercial property tax savings.
Market forces and aging equipment impact fair market value of complex manufacturing plant
Schedule time with me
for a free assessment
in property tax savings