Tax planning has long been an extremely effective tool used by many pressure cleaning contractors and equipment dealers to keep their tax bills to a minimum. Often overlooked in this ongoing battle for legitimately lower tax bills, however, is the biggest tax bill faced by most businesses: property taxes. That's right, a whopping 38.3 percent of the USD400 billion paid in business taxes was attributable to property taxes in fiscal year 2003. What's more, an Ernst & Young study recently revealed that property taxes on business property increased by more than five percent in fiscal year 2003, an increase of USD7.5 billion in one year. That compares to income taxes, which make up only nine percent of the overall tax burden on businesses. How can anyone reduce a tax bill that, unlike income taxes, is computed by the tax authorities, with the pressure cleaning operation told only what amount to pay? The answer lies in the property tax system itself and the error-prone methods employed to arrive at that property tax bill.
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