ASSESSMENT & TAX MANAGEMENT
A major challenge in dealing with real estate portfolios is managing significant amounts of information in an effective and efficient manner.
The more disparate the business operation is in terms of geographic distances and differences in processes, the greater the demand on the information supply system. Property taxes are probably the best example of how diverse a process can be. What on the surface is a relatively simple financial task – payment of taxes, is one of the more complex aspects of a business to understand and manage.
Apart from the administrative aspects of paying tax bills, the property tax function itself requires review and analysis of the assessments assigned, compliance with reporting processes and checking to ensure that the appropriate and fair amount of taxes have been incurred.
AEC centralizes, consolidates and analyzes tax assessment information across national and international borders in an effort to:
- Monitor and audit assessment and tax information
- Collaborate internally and externally with clients regarding the accuracy of data
- Review real and fixed asset inventories
- Analyze and investigate exceptions and anomalies within the data.
Process:
Our typical portfolio management responsibilities include:
- Collection and consolidation of all pertinent property tax and assessment information;
- Data entry and uploading to our proprietary data management system (iTAM Link);
- Tax payment approval and processing;
- Automated reviews and audits of assessment and tax information;
- Preparation of management reports including budgets, forecasts and variance;
- Recommend appropriate course of action;
Assessment & Tax Management Services
Property taxes are rising every year, increasing the need to realize and leverage opportunities to save on these fixed costs. AEC will discover these opportunities for you and implement a course of action to help you realize tax savings; minimizing occupancy costs and maximizing property value. AEC manages all types of properties to ensure the correct taxation charges. With the increase in properties per real estate owner the need for data management is heightened. At AEC, we execute techniques through leveraging technology at the highest industry standards. Increasing pressure to increase your overall bottom line makes it critical to save on operating costs.
Assessment & Tax Management Benefits:
- Maximize tax savings by improving the quantity, quality and timeliness of property tax data.
- Realize improved cash management by ensuring tighter controls over the amount and timing of property tax payments.
- Lower administrative costs by introducing more efficient information processing.
- Reduce risk through the elimination of lost data, late fees, interest, penalties and lost appeal rights.
- Assurance of correct property tax charges.
- Any time access to critical information.
- Large and small property portfolios benefit from common research.