Business personal property information on BPP enrollment

BUSINESS PERSONAL PROPERTY Information on BPP Enrollment

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Reduce your BUSINESS PERSONAL PROPERTY tax: If you’re a business owner, Did You Know You Can Reduce Your Business Personal Property Tax (BPP) by 40 to 50% and Save Thousands?

You can enroll in our Business Personal Property Program that will show your potential tax savings and more, but you must act now.

The deadline to file an appeal is fast approaching.

Appraisal districts make 3 major mistakes in valuing your bpp: Using inaccurate depreciation tables - Appraisal districts use a physical-life depreciation schedule that grossly overvalued personal property. For example, district tables would value a 1-year old chair at 86 to 90% of its cost. Hence, a $300 chair would be valued at $252-$270, when its true value is likely $20-$50.

Taxing on intangible personal property - Only tangible personal property (items you can see, touch, feel and move) is taxable. If you have a $2,000,000 phone system the total cost includes tangible (plastic, metal, and silicone) and intangible (service agreements, software, and trade secrets) property. Districts encourage property owners to render the TOTAL cost, which is not correct.

Encouraging property owners to include inappropriate costs - Freight, setup costs, and specialized buildings to house equipment, while included in depreciation tables (appropriate for the IRS) are dead wrong for personal property taxation

The appeal deadline is soon. Whether or not you rendered your business personal property, you still needed to ďŹ le your appeal by the deadline.

We know from our 25 years’ history in appraising BPP and commercial real estate that rendering an opinion of value can reduce the amount rendered by 50% or more.

This means your market value will result in lowering your bpp taxes.

You can enroll in our Business Personal Property Program that will show your potential tax savings Don’t Take the Appraisal District’s Guesstimate of Your Value!

ENROLL TODAY! www.poconnor.com