VALUE DRIVEN STATE & LOCAL TAX EXPERTS SERVICING ALL 50 STATES
Multi-State Retail ClientKEA has become an integral part of our team. They have provided clarity and comfort to our business with their wealth of knowledge and willingness to help. The peace of mind they provide our company is almost as valuable as the tax savings. We couldn’t do it without them.
Large National Convenience Store ChainI am continually pleased with the quality and service I receive from KE Andrews. They are very responsive, extremely helpful, knowledgeable, and have simplified my overall process. KE Andrews is a part of our team and they get 2 thumbs up from me!
Our company has engaged KE Andrews for at least the past 20 years to help minimize our property tax liability, in particular in the State of Texas. Over the past couple years or so, they have also filed and successfully obtained for us several substantial Texas severance tax refunds. All in all we have saved and recovered many millions of dollars as a direct result of their efforts.
Bobby S., MBAI’ve had the opportunity to work closely with the Severance Tax department over the last four years as a client of KE Andrews. In that time, their expertise in the area of severance tax has created significant current and long-term value for our company. As a client, I truly appreciate their professionalism and enthusiasm. They are highly determined to provide exceptional service to their clients and are dedicated to finding all possible tax savings opportunities. I highly recommend KE Andrews. They are experts in this field.
Multi-State Restaurant ChainKE Andrews is essential for our business. They are always responsive at every hour of the day and have helped us get serious dollars back for us year over year. Not only that, they have paid our bills in over 50 jurisdictions, removing the burden of processing every county individually and paying each bill. We love them!
At KE Andrews, we represent a multitude of clients that have multi-state asset portfolios. We provide expert industry representation at the state level when it comes to new legislation, and monitor the constant state and local legislative changes that affect your bottom line nationwide. Our property tax consultants are ready to serve you. We are more than just a tax firm. KE Andrews is a strategic partner.
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It’s a hefty rollback rate for the county. The new rate was released by Hall County government on Tuesday, June 5, ahead of the Hall County Board of Commissioners budget sessions coming up later this month.
In 2017, the rollback rate would have taken the county from its tax of 5.716 to 5.501 mills — a drop of 0.215 mills. The current rollback rate is a drop of 0.344 mills, a larger reduction that comes from increasing property values in Hall County.
If you’re very confused by now, don’t worry. For property tax purposes, a single mill represents $1 of tax for every $1,000 of value. A homeowner with a house worth $200,000 with a property tax rate of 10 mills would pay $200 in tax each year.
However, there’s one more level of complexity to Hall County’s property tax: Residential property is only taxed at 40 percent of its value. Now, instead of that homeowner paying $200 in tax, he or she would pay only $40 at a tax rate of 10 mills.
So why is your tax bill so much higher than that? There are several other taxes layered on top of the county’s 6.7-mill tax.
That 6.7 mills goes to the county government’s general fund, which pays for the core of the county’s service (law enforcement, administration, finance and other operations). The county also collects a fire fund property tax to fund Hall County Fire Services and taxes some personal property.
Read full article by Nick Bowman here
That claim was made Tuesday by an attorney for a Cook County woman during oral arguments in front of the Illinois Supreme Court as part of the woman’s challenge of the law.
If the law is struck down in a high court ruling expected this fall, not-for-profit hospitals around the state might have to revert to the previous, less-predictable system for securing millions of dollars’ worth in annual property tax exemptions from officials at the county level and the Illinois Department of Revenue.
Area hospitals that could be affected include Springfield’s Memorial Medical Center and HSHS St. John’s Hospital, as well as hospitals in Jacksonville, Lincoln, Taylorville, Litchfield, Carlinville, Hillsboro and Pana.
“There’s no hook in this statute that says a constitutional test should be applied,” Chicago lawyer Kenneth Flaxman told Supreme Court justices on behalf of his client, Constance Oswald, who didn’t attend the court hearing.But lawyers for the state and the Illinois Health and Hospital Association, trying to secure a definitive ruling from the court on the law’s constitutionality, said references in the statute clearly imply that hospitals must satisfy the Constitution’s charitable requirement.
Read full article by Dean Olsen here
CLARKSBURG — Lawmakers and state, county and board of education officials are closely watching a state Supreme Court case that will determine if the West Virginia Tax Department must change the way it values oil production expenses on natural gas wells.
Antero Resources appealed the valuations to county commissions in several oil-producing counties. Each of those counties, including Harrison and Doddridge, upheld the state tax ruling, according to Harrison County Administrator Willie Parker.
“There is a cap on expenses per well, $175,000, and that’s one thing Antero and other companies were challenging. They appealed the Doddridge County cases to the business court out of Martinsburg,” Parker said. “That court decided in favor of the natural gas company.” Kevin Ellis and Al Schopp of Antero Resources said they could only speak generally about the ongoing case.
“Since this is still an active and pending case, we are not comfortable talking about the merits of the case. We disagreed with the mathematical equation they were using and how they were applying it. It is unfortunate the process takes this long. We’re hopefully coming to the end of the process, then everyone will move forward,” Schopp said.
Ellis added that all taxes assessed have been paid. “We’re just making sure the methodology is appropriate going forward,” Ellis said.
Read full article by Darlene Swiger here
The oil and gas production tax structure is a critical consideration for oil and gas explorers and producers in Alaska due to its impact on project economics. It has been and will likely continue to be an area of uncertainty, and the Department of Revenue has finalized one set of regulations to implement House Bill 111, which passed last year, and has published a second set of draft regulations that govern carried-forward annual production tax losses that can be accrued starting in 2018.
Alaska’s oil and gas production tax regime is found at AS 43.55.011-AS 43.55.900. The production tax structure, including production tax rates, tax limitations, credits and other incentives varies depending on the area of the state that is the focus of the exploration, development or production activity.
Unlike other states that levy a severance tax on the gross value at the “wellhead,” Alaska’s production tax is levied on the net revenues of oil and gas production from leases or properties in the state, except for the federal and state royalty share and oil and gas used in drilling or production operations, or for repressuring. At a high level, the calculation starts with destination value, generally the higher of the sales price or a calculated prevailing value. The costs of pipeline and marine transportation are subtracted from the destination value to obtain the gross value at the point of production—the wellhead value.
Read full article by Jonathan E. Iversen here
Gov. Bill Haslam signed a proposal into law Thursday that would continue to exempt whiskey distillers in Tennessee from paying property taxes on their barrels.
The proposal, which was overwhelmingly approved in the legislature, arose after a local audit deemed barrels owned by Lynchburg-based Jack Daniel's taxable.
As the legislation was under consideration, the company said it had not paid property taxes on its barrels since the end of Prohibition. Master distiller Jeff Arnett said Jack Daniel's would have to pay nearly $3 million this year if a tax were imposed. Read full article here...
TWO BRISTOL TENNESSEE LEADERS WANT TO RAISE PROPERTY TAX RATE
BRISTOL, Tenn. — Eight months after Bristol Tennessee City Council lowered the city’s property tax rate by 9 cents, two council members want to raise it.
The current budget was approved with a tax rate of $2.25 per $100 of assessed value, but last September, following the property reassessment that occurs every four years, council voted to lower it to $2.16. That brought some city projects, including plans to build an aquatics center, to a halt and resulted in cuts totaling $1.4 million to capital spending in all city departments.
Vice Mayor Margaret Feierabend said she wants council to consider an increase before property tax bills are mailed out in October.
“Council usually re-evaluates the property taxes every four years — but it’s a tradition — it’s not an ordinance,” she said. “We don’t have what we need in place to keep us up to speed with our competition in the Tri-Cities, in the region and in our country.” Read full article here...