A property tax is an annual levy imposed upon property or land by the legal authority on which the property is located. The property includes all tangible real estate property, house, office building, and the property rented out to others. It is usually a percentage of the assessed value of the property. In the United States, property tax is collected by counties or municipalities. Property tax liability is calculated by multiplying the nominal property tax rate by the assessment ratio (the percentage of the value of the property that is taxed) by the value of the property.
Where we come in
With so many commitments for individuals and corporations, keeping track of obligations like taxes becomes a strenuous task, that is where we come in. Souri, Gazda, & Co. is a reputable tax firm that delivers and offers excellent expertise in bookkeeping outsourcing, tax fillings, VAT registrations, analysis, consulting, and payment of taxes. We reduce the time and costs for you. We provide property tax reviews to help identify overvaluations and recover overpayments and property tax compliance services to help you maintain confidence in the management and reporting of real and personal property tax for you and your business.
We organize and manage your entire accounting and tax reporting activities by bringing precision, consistency, and punctuality to local tax compliance, and clarity to global tax risk management.
- Review prior year filings
- Separate personal property from real property and intangible assets
- Prepare personal property returns and file with appropriate taxing authorities
- Track assessments and tax bills
- Manage informal and formal negotiations with assessors
- Amend returns and file appeals as necessary
- Suggest process and technology changes that can improve your in-house compliance