Personal Property

Many states tax the value of business personal property used to operate your business. Taxable personal property includes most every asset including expensive machinery and equipment, telephone systems, inventory (in some states), and even the office chair you are sitting on right now. Complying with the accounting and tax reporting of business property tax is a complex and costly process.

Unlike real estate, taxpayers are required to file an annual tax return in each tax jurisdiction where they have a physical presence. Companies face the daunting task of filing hundreds of forms, meeting deadlines, and complying with cumbersome rules and regulations or face steep penalties and interest charges for non-compliance.

CTMI can help

Our property tax consultants are experienced in all states that impose a personal property tax. We have the resources to efficiently file and maintain tax returns and exemption forms for each taxing jurisdiction across the country. We can also tailor our level of service to fit your needs - from providing the labor to fulfill the compliance requirements to advising you on the most advantageous valuation methodology.


  • Review client’s business, property records, accounting and tax process
  • Perform comprehensive analysis of detailed asset records for tax savings opportunities
  • Review eligibility for available exemptions
  • Conduct due diligence regarding local tax authority’s valuation assessment and methodology
  • Prepare defensible valuation assessments and tax strategies
  • Submit and negotiate valuation appeals with local tax authorities
  • Provide litigation support and expert testimony
  • Tour and inspect facilities, if necessary


  • Prepare and file personal property tax returns in each tax jurisdiction
  • Reconcile client assets registers by location including additions and retirements
  • Correspond with taxing authorities on all property tax matters
  • Review and approve property tax bills
  • Provide online client reporting

Audit Assistance

  • Provide advice and counsel when properties are under audit
  • Evaluate related tax returns and documentation under audit
  • Coordinate directly with Auditor throughout the audit
  • Negotiate a fair and equitable resolution or pursue legal proceedings