Diversified Property Solutions

Real Estate Tax Review and Appeals

Fixed Asset Inventory and Reconciliation

Personal Property Tax Review and Appeals

Multi-state Property Tax Return Compliance

Property Tax Abatements and Incentives

Multi-state Property Tax Return Compliance

Working in conjunction with client personnel, our experienced professionals design custom solutions that identify and incorporate tax savings opportunities into the initial tax return filing. From retirements to exemptions, our methodology is designed to maximize the value of the compliance function. Our process includes an on-site review of the fixed assets, preparation and filing of tax statements, verification of assessments, verification and approval of tax bills and issuance of management reports. We utilize leading property tax software to facilitate a technology solution that drives efficiency throughout the entire process.

ZF Group North America Operations and its Subsidiaries has manufacturing facilities, marine, electronics and aftermarket divisions, throughout the US. Diversified Property Solutions is engaged to assist ZF with compliance, real and personal property tax appraisals/appeals, and personal property consulting regarding abatements and incentives. Recently we have engaged DPS to provide fixed asset inventories, general ledger reconciliation and annual fixed asset tagging maintenance. Working efficiently with DPS has enabled ZF to generate current actual cash property tax recoveries with a cumulative long term reduction in tax exposure as well.

Allan B Currie, CPA
Vice President and Chief Tax Officer, ZF Group NAO and Subsidiaries

Compliance/Consulting Services Yields Savings

CLIENT BACKGROUND:
Global manufacturer of engineered and applied products
Approximately 3,900 employees at more than 60 locations in 11 countries
U.S. locations require the filing of 70 returns in 10 states

HOW DIVERSIFIED PROPERTY SOLUTIONS HELPED:
In support of the annual compliance services, we file approximately 70 personal property returns in 10 states for our client. As part of the return preparation process, we review and classify all assets to ensure they are properly reported according to state statute. We verify the related assessments and tax bills to make certain the returns are assessed as filed.

As part of the consulting services, we perform an on-site fixed asset inventory at the plants and review and appeal real estate assessments, as necessary. Assets are reviewed to identify retirements, partial retirements, assets eligible for beneficial classification and embedded non-taxable costs. We incorporate the results into subsequent returns.

BOTTOM LINE RESULTS:
Tax savings related to compliance/consulting services average more than $400,000 annually