There are many problems and difficulties that arise when attempting to manage mobile personal property from a state and local tax standpoint. Due to the nature of these assets moving from county to county and state to state, the tracking alone can be problematic. KE Andrews currently handles over 10,000 mobile personal property accounts across the country, representing everything from mobile rigs, to compressor stations, to service trucks. If it moves, we can handle it. There are a number of different tax strategies you can employ with these types of assets. Our experience and expertise in this area is second to none, and we are the premier trusted advisor of choice when it comes to selecting the tax strategy that is the best fit for your operation.
Over the years, KE Andrews has built proprietary state-of-the-art property tax software that has been designed to handle mobile property with advanced GIS mobile property tracking. It has been built to produce a maximum tax savings situation for our clients, along with providing administrative advantages that are unmatched in the industry.
Every year, KE Andrews renders hundreds of thousands of miles of pipeline for our clients. Our sophisticated mapping system is an integration of computer software and geographic data, allowing us to manage and query spatial information related to pipeline systems and mobile personal property. It provides a framework for gathering and organizing spatial data and related information so that it can be displayed and analyzed, and it gives us the tools to visualize the data and see the results in the form of powerful, interactive maps that reveal precise location. To provide seamless client service integration, we utilize the GIS data or “Shape Files” that the client has created for other purposes and merge it with our mapping system. Our goal is to minimize your time spent gathering information.
Our mobile personal property tax consultants analyze and negotiate your mobile assets aggressively to come to a fair market value for assessment in each jurisdiction of temporary residence. We will also work with our clients on domiciling strategies. There are different assessment techniques and strategies applied to these assets, depending on the state of location. KEA retains experts in every state where these mobile assets reside. We are prepared to handle clients of all sizes seamlessly, becoming your property tax department down the hall.
In most states, either after an initial informal negotiation period or after the filing of a rendition, the assessor issues a ‘notice of value’ (NOV) to the taxpayer. In cases where a rendition was filed, KE Andrews will review every single NOV to ensure accuracy, and will contact counties for corrections in cases where there are errors. Every single NOV is reviewed along with an aggressive analysis of each asset, and our appraisers determine cases where an appeal is warranted.
When an agreement is not reached in the informal negotiation period with the assessor or third-party appraiser, and certain NOV’s are issued that we determine to be unfair, we will file a formal appeal with the county and prepare to present a case before the local board of assessments. We make it a point to go to board hearings every year, firstly because many times we are able to again negotiate and come to an agreement immediately prior to the hearing, and secondly we feel it is important to meet the assessors and third-party appraisers in person to establish and maintain a healthy working relationship. KEA maintains a highly successful track record when presenting oil and gas cases at board hearings.
After board hearings are complete, values become finalized. At this point, KE Andrews is able to compile tax accruals for our clients based on the final values issued by the county. Accrual reports are issued at minimum once per year after values are finalized, but they can be updated at different points throughout year at the client’s request.
After values are finalized, tax bills are issued by the county treasurer or tax collector, along with other taxing jurisdictions. Tax due dates vary by state. KE Andrews is here to review every single tax bill for accuracy, and will process it to the client for timely payment. We have adopted several methods to execute the tax payment process. Ask us about our “KEA Administrative Advantages.”
KE Andrews maintains a SOC1 Type 2 every year. This is an audit of our processes and controls, ensuring that we do what we say we are doing year after year. These audits are extremely valuable to publicly traded companies that require SOX compliance.