With over 7,000 tax jurisdictions in the United States and a myriad of state and local tax laws, rules and regulations, taxpayers are presented with an array of personal property tax saving opportunities. In many states, companies are required to report their taxable assets, including cost and year of acquisition. However, many taxpayers do not provide the additional information necessary to allow tax assessors to fully understand their businesses and, therefore, to assess more equitably.

Tax savings can be achieved through appropriate asset classification (between class lives and between real and personal property assets), analysis of obsolescence (functional and external), identification of ghost assets, identification of costs that do not increase value and analysis of exempt property.