Case Study: Upstream
⬤ 01. Challenges
Addressing Chronic Overvaluation of Leases in Texas and Pursuing an Assertive Tax Stance
Our first-year client had long struggled with overvalued leases on the tax rolls in Texas, prompting them to seek a more assertive ad valorem tax position.
They also expressed a need for administrative solutions, encompassing accounting system integration and advanced well-level accruals.
⬤ 02. Approach
Efficient Data Acquisition, Aggressive Negotiations, and Streamlined Processes
To meet the client’s objectives, our team swiftly acquired all necessary data while minimizing disruptions to their operations. Leveraging our systems and expertise, we maximized every opportunity to negotiate with third-party appraisers, even escalating to formal board hearings. We successfully advocated for our client’s interests and identified cases of double taxation for properties situated on county lines. Furthermore, we streamlined the accrual and tax payment process by integrating our systems with the client’s accounting software and providing customized uploads for accruals.
⬤ 03. Solution
Substantial Tax Savings and Streamlined Property Tax Function
Through our comprehensive efforts, we delivered significant tax savings of over $7,500,000 to the client in the first year, surpassing their historical savings by approximately 30%. Our approach encompassed the entire property tax function, from initial assessments to detailed accruals. By implementing streamlined processes and providing detailed accruals, we ensured optimal financial outcomes and enhanced efficiency for the client.