Our consultants and engineers analyze cost and process data to estimate the amount of property tax relief that the TCEQ provides to each applicant in Chapter 313. This information is essential for negotiating the terms of the agreement. Maximizing the TCEQ exemption is an important tool to reduce Chapter 313 property tax assessments. Based on cost and operational data, we estimate the estimated value of the project in all phases of construction and in the future. This forecast helps Chapter 313 applicants determine the optimal time for the implementation of the agreement to maximize property tax savings. For many municipalities in the United States, property taxes are a major source of income. The amount of the loss of tax revenue resulting from these exempt assets is considerable. Baltimore City Council President MD recently estimated that his city is losing $120 million a year because of the tax shortfall.  Taxable values of real estate in tax-collecting municipalities have decreased as a result of the mortgage crisis, further reducing local coffers. A payment in lieu of tax (usually as a PILOTE or sometimes PILT) is a payment that compensates a government for some or all of the property tax revenue lost due to exempt property or the use of real estate.
The federal government of Canada makes instead of taxes to local government agencies (including First Nations) where the federal government owns real estate. At the same time, these facilities receive the same service as the rest of the inhabitants of the given city or county. These services include firefighters, police, sewers, garbage collection, etc. It is argued that the requirement of some or all non-profit organizations to pay taxes, either voluntarily or through legal measures, would help offset some of these costs and reduce the burden on local households.  This would amount to an increase in the tax base in these areas. Many non-profit organizations, whose own budgets are dwindling, fear this trend. Minimizing the value assessed over the life of a Chapter 313 agreement is essential for property tax management when the value limit expires. PH analyzes production data and external market data to quantify all forms of obsolescence that the evaluation district should consider and provides a framework for a correct and fair assessment in the future. In 2001, the 77th Texan Legislature passed House Bill 1200 for the creation of Chapter 313 of the Texas Economic Development Act. Under Chapter 313, a qualified candidate may ask a school district to limit the assessed value of its new development project. Qualified applicants and projects that use these provisions can significantly reduce their property taxes.
Our team has successfully achieved a series of local tax cuts and Chapter 313 of school value limitations for new industrial/industrial/production developments. We are familiar with the whole process, including site selection, negotiations with tax authorities and the maintenance of existing agreements. Through our efforts, we have reduced property tax liabilities for our qualified clients. Our services include: Payments instead of taxes for non-profit organizations are voluntary. However, some cities want that to change.   These are the vast lands of universities, hospitals, churches and other non-profit organizations. The exempt status granted to these organizations by the IRS means that property taxes that would have been paid to municipalities if that land had been held by individuals or businesses will not be collected. Active and new tax incentives require additional annual reports on different tax areas. We work with our clients to complete all compliance reports and submissions necessary to maintain current and future incentive agreements. In the U.S., payment can be made in a different way