Tee off your tax worries with our expert help! We're here to help you score big savings!
If tax experts concur that 80% of golf courses are overvalued, making it one of the biggest single expenses, why only 20% of golf course owners file appeals? The reason is that the process is painful, complicated, and confusing – but it’t have to be for us!
AT REAL ESTATEAUDITING SERVICESWE UNDERSTAND THAT:
• 80% of golf courses are overvalued
• After personnel, taxes is one of the largest expense categories, yet one of the least scrutinized
• Assessors are incorrectly using the cost approach leading to inaccurate and overstated arbitrary valuations
• Assessor’s incorrectly value property as a “Special Use Property” as opposed to its Value in Use
• Lack of financing has led to an increase in capitalization rates, thereby lowering values
• In the past ten years there has been a 50% increase in the number golf courses with no increase in number of players
• Changes in tax laws have resulted in overstatement of personal property taxes
• Changes in tax laws may allow for accelerated depreciation
• Fixed asset ledgers have become bloated and overstated with obsolete and discarded assets
REAL PROPERTY TAXANALYSIS: In today’s market, assessors consistently use the wrong approach when assessing the Fair Market Value of a golf course. Our in-depth knowledge of the industry coupled with our years of experience ensures we will identify the lowest and most accurate assessment of your golf course. Here’s what we do:
General Analysis
Is the first step in the tax analysis process. REAS will develop a preliminary independent opinion of value based on information provid ed by client and obtained from taxing jurisdiction.
Detailed Analysis
Is the next stage in the tax analysis process. REAS will develop a detailed valuation model after performing an in-depth review of the property and assessor’s work cards.
Report Compilation
Is the final stage in the tax analysis process. REAS will provide a detailed report, make appropriate filings with taxing authority and coordinate settlement process.
PERSONAL PROPERTY TAXAUDITS: Proper identification and categorizing of personal property on your golf course is an arduous task few corporate teams have the time or capacity to manage. Constant change in tax laws adds to the challenge of effectively identifying, categorizing, and declaring personal property to optimize deductions and achieve maximum tax savings. Here’s what we do
General Analysis
is the first step in the personal property tax analysis process. REAS will gather necessary information from client to make a prelimi nary assessment of potential savings.
Detailed Analysis
Is the next stage in the personal property tax analysis process. REAS will perform a detailed review of fixed asset ledger in conjunction with prior returns do determine savings potential
Report Compilation
Is the final stage in the personal property tax analysis process. REAS will provide client with a detailed report, coordinating any recoveries with taxing authority