In the Midst of Recession, Economic Obsolescence Can Be A Winning Argument for Reductions in Local Property Taxes

The Bloomberg BNA Tax Management Weekly State Tax Report filters through current state developments and analyzes those critical to multistate tax planning.

Many industrial operators, forced to reduce production or shut down plants in the midst of a severe economic downturn, may not be taking advantage of an opportunity that the downturn presents to argue for a break in property taxes. In this interview, BNA talks with Bob Henderson, national director of property tax with Ernst & Young LLP, about the impact of economic obsolescence on the assessed value of machinery and equipment. 

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