Silver Oak Advisors has become an industry pioneer in obtaining property tax savings and prior year refunds working with businesses that have existing industrial development bonds and abatements in place.  Our understanding of the entire process as well as our years of experience reviewing bonds and abatements has enabled Silver Oak Advisors to become a pioneer in this service.

Most companies that obtain economic abatements and industrial development bonds put significant time and investment into the process to getting them initiated and completed for the first year but once the agreement is in place it goes on auto-pilot.  Companies are sometimes under the false impression that the taxing jurisdictions are responsible for maintaining the bonds and abatements, or that local personnel who had no role in obtaining the agreements are fully capable of understanding the complex nature of such agreements.

The facts are that the most local jurisdictional assessment personnel are not involved in any part of the decision making when it comes to the approval and creation of property tax bonds and abatements.  They may not even understand all the benefits that these agreements offer and do not properly implement them.  In addition, local plant personnel have the same kinds of problems as the local county administrators because they typically have not dealt with the unique issues that property tax bonds and abatements present.

The following table illustrates a sample of some of the successes we have had in reviewing Industrial Development Bonds and Abatements over the past few years.

CLIENT TYPE BOND OR ABATEMENT REVIEW FIRST YEAR  TAX BENEFIT
Fortune 50 Appliance Manufacturer Multi Year Benefit $116,000
Pulp & Paper Manufacturing 12 Year Benefit in excess of $7,000,000 $520,000
National Bottling Plant Single Year  Benefit $550,000
National Tire Manufacturer $1,000,000 Total Benefit $400,000
Battery Manufacturer Single Year Benefit $50,000

Because companies that are looking for every opportunity to reduce cost in these difficult economic time it makes sense to ensure that your getting 100% of the benefits that you negotiated for.  Often Silver Oak has found that significant refunds are available for companies due to misapplied property tax bonds and abatements.  It’s important to initiate our review process because you do not want to lose a year of refund tax dollars due to a statutory deadline expiring.  Please reach out to us for a consultation call.

Silver Oak is committed to building long-term professional relationships with our clients and we have the depth and experience to help you resolve any property tax issues you may face.  If you have any questions, please email us at info@silveroakadvisors.com, you can contact us directly at 1-877-352-8616.

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