More than properties were indicated to have no corresponding cost center code, resulting in charges being booked to a suspense account instead of being invoiced to During the first year of engagement, AEC was able to correctly apply cost center coding to all properties. AEC is retained to determine the fairness and correctness of property assessment decades after the original cost records are lost. Over many decades the rules for assessment have changed and the original capital reports used to determine the assessments both for buildings and equipment are lost.
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AEC has a reputation for detailed machinery and equipment and building analysis. AEC also has expertise in detailed insurance valuations. The ATM process for an Energy client is an intricate one. An AEC Client became concerned when it noticed significant unexpected and unusual increases in its assessments. Assessment values and corresponding taxes were climbing If the unprecedented assessment inflation continued, property tax — historically a minor expense to be properly tracked and paid — would soon have a material effect on profit With innovation, and the technical strength and inclination to approach problems from unconventional directions, AEC was recognized as possessing the capability to both find AEC identified that the historic approach to assessing maintenance and other non-taxable capital spending had undergone a fundamental change.
AEC also identified that assets Large, big box tenant in regional shopping centre.
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Asset manager appointed a new property manager which resulted in an adjustment in tax allocation methodology. Change in allocation method was discovered by AEC. Review of current and prior years indicated substantial over-charge situation. Analysis was developed with appropriate back-up and support from lease documentation and relevant legislation. Client has completed a recent acquisition adding leases to it's national portfolio of standalone retail, distribution, and office space properties.
Client is struggling with implementation of upgrades to lease administration software. Client does not have time, resources or expertise to thoroughly review and audit October is breastcancer awareness month. There has been significant progress in breast cancer research over the past 20 years, but more than 70 Canadians are still being diagnosed with breast cancer each day. The city of Edmonton has finalized non-residential tax rates and, as expected, rates have continued to climb.
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Our team is comprised of skilled professionals in their field, View All Updates. We need your feedback. AEC Paralegal Professional Corporation is the Ontario-based company under which professional paralegals carry out advocacy-related activities, as required by the Law Society of Upper Canada. Our clients benefit from our ability to reduce operating expenses through realty tax and occupancy cost recovery services. P We support commercial transparency with our customers, business partners, suppliers and others. Click here for more information. Skip to main content. Canada's Property Tax Solution Since Search form Search.
Learn How We Can Help. Sectors We Serve We maximize savings opportunities and reporting certainty, enabling our clients to focus on their core business. Hospitality Sector. Mining sector.
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Industrial Sector. Commercial Sector. The AEC Difference. We Are Here To Stay. Issue: The client, a national hotel operator, acquired the property in Why AEC: Our initial review confirmed that rental revenue in the pro-forma was the revenue from leasing convention centre as the client was not an operator. Issue: The client is a co-operative entity that occupies a large portion of a British Columbia property.
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Danger: Incumbent provider had historically completed 'desktop reviews' that didn't include inspecting the property or obtaining information from client to understand Issue: A few years after completion of redevelopment project the developer sold their leasehold interest in the property. Danger: AEC became involved when our client approached one of our partner law firms, with a request to review a settlement proposed by another consulting firm. Client Success: The appeals on this head office property settled recently after only the first week of hearings were complete.
Case Study 4: Resolved without a Hearing. Issue: Client occupies a large distribution warehouse. Danger: The company needed to ensure the savings were not eroded over time by increases above the normal. Why AEC: We were able to do an initial review that would mitigate any potential dangers. Client Success: Upon reviewing the comparable assessments we determined that the property was unfairly assessed.
Issue: Receiver appointed sell assets associated with tool and die facility. Danger: Subject property was purpose built by previous occupant which suggests that value in use will not be recovered in "exchange" of market place. Issue: This service engagement related to a light manufacturing operation that cleaned, repaired and distributed leased uniforms and linens.
Why AEC: This specific jurisdiction had instituted a rate reduction for Light Industrial properties to reduce the amount of tax collected for Education purposes. Client Success: We were successful at the second level of appeal on this engagement and subsequently the decision has been appealed further for judicial review by the assessment authority.
Case Study 3: Landmark Forestry Decision. Issue: As a result of the economic changes in the Canadian forest industry by only a portion of the entire facility was used to produce pulp, the remainder of the sawmill and Danger: For the base year, the assessor stated that the significant number of machine and mill closures, if anything increased the value of those mills still in operations and Why AEC: Reductions like this require a broad range of expertise and a partnership between the client, the consultant and the legal counsel.
Why AEC: AEC, through this case, pioneered the approach that the client's facility should be considered Light Industry, and as such, a lower tax class rate should be applied Client Success: The client's subject property has been deemed as Light Industrial and will continue to receive tax savings associated with the lower tax class rate.
Case Study 1: Saskatchewan Assessment Review. New legislation allows you 60 days from the date of your assessment notice June 18, to make an assessment complaint. The assessment complaint deadline is August 17th, To officially file a valid complaint the following is required:. Please mail or drop off completed form and filing fee to:.
Village Office th Ave P. Events Calendar. What is property Assessment? What is Market value? How is Market Value Determined?
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Assessment Complaint Procedures - New Legislation New legislation allows you 60 days from the date of your assessment notice June 18, to make an assessment complaint.