Aprio’s Meredith Smith and Stacey (Roberts) Chamberlain continue their conversation with Marcia Shippey-Pryce, turning from how personal property tax value is determined to how businesses can unlock that value.
Marcia explains why a proactive posture pays off: because many jurisdictions apply a trend factor that can push even a decades-old asset’s value back up, the fixed asset register deserves a closer look than it usually gets. She walks through the ghost assets that no longer exist, the double counting that follows machinery rebuilds, why a fully depreciated asset can still generate a bill, and the supplies and inventory exemptions that vary state by state. The recurring theme: the earlier a property tax professional is involved, the more room there may be to help manage exposure before an assessment is finalized.