Specialty manufacturer saves $50,000+ annually by correcting depreciation of assets

Specialty manufacturer was being charged $50,000+ too much annually in Business Personal Property taxes. CRE Tax Appeal was contracted to review company’s personal property assets with their accounting team. During audit, two main issues were uncovered: misclassification of assets and incorrect depreciation schedules being applied to assets. CRE Tax Appeal researched Board of Equalization guidelines and found documentation to support a shorter life-span for this type of specialty manufacturing equipment. The specialty equipment was the largest component of their personal property assets and correcting the life-span saved this company $50,000+ each year.