Property Tax Outsourcing
Trusted Property Tax Outsourcing
Accuracy is everything when figuring your property taxes. The liability involved in doing them yourself can become too overwhelming. The experienced professionals at Cold River can help. We are your property tax outsourcing solution. With nearly 30 years of experience, our staff will ensure that your property taxes are managed efficiently. There are plenty of property management software solutions out there, but at the end of the day, we’d all rather talk to a human about something so important. Whether you’re a home builder, CFO or investor, let the staff at Cold River help you manage your real property taxes.
Property taxes can get complex quickly, so you need someone who can help you follow the right path. We offer some of the most comprehensive property tax outsourcing in the market. Some of the services we offer include:
· Returns filed, assessments tracked, appeals made and managed to settlement.
· Tax liability forecasted, tax bills processed, paid and verified.
· Tax sales stopped, redemptions made, property and collateral protected.
· Taxes researched and delinquencies identified.
· Customized tax digest provided by secure web portal so that the entire tax digest is available to the client 24/7.
The risks involved in allowing taxes to go unpaid vary from state to state. The consequences range from additional expense and time to catastrophic loss of collateral and property. Real estate owned and loan collateral should be monitored for tax liability and a systematic process should be in place to make sure they are paid.
Part of what makes property tax tedious is the management and organization of the tax records through the process of return filings, assessments, appeals and bills plus juggling all the different compliance dates and verifications. Typically tax records are stored with the collateral or the property records which makes them difficult to manage.
Companies that specialize in banking, investing, or other professions with high concentrations of real estate as owned property or collateral, know that taxes are important, but typically have little time for the tedious job of managing them. It’s also not a core function but rather a distraction to staff whose expertise is underutilized on administrative duties like taxes. Tax issues usually become interruptions and breaks in the continuity of the core business. They belong in the hands of administrative resources that manage property taxes as a full time function.
Taxes must be paid but they should also be forecasted, analyzed, minimized and paid without a fire drill. There should be a system in place to make sure that all tax assessments are reviewed in time to make informed decisions on appeals and to properly forecast the tax liability due and how it affects cash flow. The outsource process should also have a predictable fee.
Taxes get sold, property gets lost, and investors buy deeds and liens and charge for redemptions. Tax sales on delinquencies usually happen every month, in every state, and for a lender, notice is a nice thought but often does not happen in time. In these instances, you need a live person that knows the property tax business whose job it is to deal with your crisis.
Distressed Asset Purchases/Loss Share Arrangements:
These arrangements usually come with a host of property tax issues that need immediate attention and decisive action. Cold River specializes in triage and repair for tax portfolios acquired through loan/property purchases or loss share acquisitions. Documentation is key in loss share agreements and reporting means reimbursement.
Loan servicers can carve out the tax management portion of any portfolio and put Cold River in their back office for tax management.
Let us be your property tax outsourcing resource. Contact us to discuss your real property tax management needs.
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