Contest Your Audit Escape Assessments
By state law, the county assessor is required to audit taxpayers on a quadrennial basis. That means that every four years a county property tax auditor is sent to your business to review your last four personal property tax returns. The sole purpose of this effort is to identify and assess escaped (underreported) property. Many companies are caught completely unawares when they receive a large tax bill after such an audit.
Often, these audits are full of errors that benefit the assessor’s side of the books. Fortunately, there are a wide range of options open to the taxpayer that can significantly lower or even eliminate these assessments. GLB has a unit within our firm that specializes in this negotiation process. This unit is made of property tax specialists and attorneys with more than 10 years of experience significantly lowering audit results.