Manage Your Property Tax Liabilities By Outsourcing
Owners and managers of large or diverse portfolios of real estate understand that taxes must be appealed and kept as low as possible, and the bills have to be paid on time to avoid costly penalties or worse. Managing these services in-house poses a litany of challenges;
- Dealing with seasonal staffing shortages
- Keeping continuity of expertise in the department charged with handling taxes
- Managing appeal reps in scattered markets
- Verifying and approving tax bills for payments
- Making sure all the tax jurisdictions bills are obtained
- Reporting and forecasting on the tax calendar
When it comes to managing your property taxes, there is a lot of opportunity for error. At Cold River, we take the burden away by becoming your property tax management outsourcing experts. With more than 30 years of experience, we understand all the pieces. We spend our time helping our clients manage their liabilities so they can spend more time on what matters- their core business.
Features & Benefit Of Property Tax Management Services
- Document Management: Let Cold River receive your tax documents and become your tax mailbox. Documents are tracked, managed and archived. The tax mailbox esnsuresthat documents are not overlooked.
- Data Management: Get the important data from the documents and in a sortable format for review and analysis. Put your whole tax picture together along with FMV trends, tax information, address and any special internal IDs and view it in a spreadsheet or table format.
- Research and Monitoring: Let Cold River do the research to verify taxes using available public records, deeds, plats and assessor site information. The Cold River staff is trained in basic and complex real estate transfers, debt and collateral structures, participated loans, liens and fifa satisfactions and are called on by other national firms for their expertise in redemptions and recoveries.
- Appeals: Cold River differentiates itself in the marketplace by managing both appeals and processing in-house. Our administrative approach means that all the appeal work is managed and taken to resolution as part of our monthly management responsibility. The advantage to the customer is that all properties are evaluated for appeals each year and appeals are filed for any amount of potential savings.
- Tax Payments Made: Cold River will prepare the documentation for internal client approvals and the backup for accounting. Once the approval to pay is received, the payments are made by Cold River to all the taxing jurisdictions, and payment receipts and verifications obtained and archived. Electronic uploads for accounting make the process easy to integrate.
- Recoveries: The complexities of tax liens, investor payoffs, redemption periods and excess funds collections are reason enough to outsource your property taxes to Cold River. For real estate owners as well as lenders, understanding who has the right to pay property taxes on something you have an interest in as well as who has the right to redeem or super lien the property is critical. Cold River has the expertise you need to keep your property or collateral out of harm’s way.