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Manage Property Taxes and More

Property Taxes | scale balancing building and cash | SIB Fixed Cost Reduction

No one likes to pay taxes, but they are a part of the price you pay to do business. From property taxes to payroll taxes, it’s important to get it right, or you risk paying more than you need to. SIB has proven expertise in reviewing several tax categories, including:

  • Property
  • Unemployment and payroll
  • Sales and use
  • And more!

Let’s take a closer look at some of these areas of taxation and how they can affect your company’s bottom line.

Property Taxes

You have a right to appeal your property taxes, whether you are the owner or the lessee. More than 65% of all U.S. commercial real estate is over-assessed. Many factors affect property taxes, including new legislation, zoning changes, age of property and the value of surrounding properties. Taxing authorities take a “one size fits all” approach to determining property value, so you are not guaranteed an accurate assessment of your property’s value.

Triple Net Leases (NNN): Many of our clients operate under NNN leases that require the lessee to pay property taxes, insurance and maintenance in exchange for a lower rent price. There are opportunities to appeal these pass-through charges, but timing is of the essence. Some counties reassess the value of the property annually while others may fix the price for up to 5 years. The annual window to file an appeal on the property assessment is often only 30 days from the notice, though it varies by state and county. Such headaches go away when you work with SIB, because we will keep track for you and file appeals when assessed values warrant.

Manage Property Taxes | City block with businesses | SIB Fixed Cost Reduction

SIB Fixed Cost Reduction reviews your property tax records and performs a market value analysis on your real estate portfolio. We use data from thousands of locations around the country as well as our in-depth knowledge of real estate markets. We determine exactly how much your real estate portfolio is worth and what you may be able to save with a more accurate assessment.

If SIB’s experts determine that your property is over-assessed, they will initiate the appeals process and present the case to your local taxing authority. We are successful 88% of the time in securing cost reductions for our clients with average annual tax savings of 7-40 percent.

Other Taxes

  • Unemployment and Payroll Taxes: If you have employees, you pay federal and state unemployment taxes to help fund unemployment compensation benefit programs. These taxes are based on a several factors such as salaries and pay rates, type and age of your business as well as your track record for unemployment claims filed against your business. Based on these factors and the states in which you do business, it may be possible to negotiate your tax liability as well as verify and monitor your payments.
  • Sales and Use Taxes: There are more than 14,000 tax jurisdictions in the U.S., and sale and use tax rules change from one jurisdiction to another. The sales tax is often assessed at the same rate as the use tax, but not always. Some states require taxes to be paid monthly, others quarterly. Brick-and-mortar stores are taxed differently from remote sellers. Depending on where and how you operate your business, taxes are often due in multiple jurisdictions, all of which have their own variations, exceptions and penalties. With so many complications, mistakes are common.

Skip the headaches: Let SIB Help You

SIB ensures your business’ tax liabilities are structured properly and accurately reflect what your company should be paying. We have worked with businesses and tax experts across the country and understand how your business fits into the overall picture. We leave no stone unturned in our quest to find savings for you.

Our initial review costs nothing out of pocket. We earn our fee only if we successfully renegotiate your tax rates, correct billing amounts and obtain any available refunds.