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Property Tax Abatements and Incentives

Property tax abatements are an economic development tool offered by local governments to stimulate economic growth and are an important tool to help companies remain competitive. Opportunities for tax abatements and incentives may exist if a company is considering construction of a new facility, expansion or renovation of an existing facility, adding new machinery or equipment, or acquiring or consolidating operations. We work with our clients to identify available incentives, gather the necessary information and represent the organization throughout the entire application and approval process. Our approach creates a positive outcome for both our client and the community in which they are located.


I have been working with Diversified Property Solutions personnel for more than 13 years. I enjoy working with them because they are no-nonsense and get straight to the point. They come to me with ideas on where to look for additional savings, but leave it up to me on when to pursue them. We rely on their expertise and insight on how to manage our taxable assets better. We have been successful in several property abatements based on leads from DPS. And, if needed, they are always happy to pass along a referral if it’s something that DPS does not cover. If you want something done well that won’t require a lot of effort or supervision on your part, DPS is the team to call.

Christine Quast, Controller, Takata


Incentives Review & Filing Generates Savings

CLIENT BACKGROUND:
R&D Facility
80,000 Square Feet
Capital Investment: $14.6 million
Job Creation: 40 employees

HOW DIVERSIFIED PROPERTY SOLUTIONS HELPED:
We met with facility personnel to understand the nature of the project, the level and type of investment being made, as well as the expected employment growth resulting from the project. Based upon the defined project, we identified the tax-related and non-tax-related incentives available and presented a proposed package to the client. Upon agreement with the client as to which incentives were of interest, we contacted the appropriate State and Local representatives, prepared the necessary applications for submission, attended all required meetings and fostered the incentive applications through the approval process.

BOTTOM LINE RESULTS:
More than $3.0 million in total savings over the life of both State and Local incentives