Case Study: Property Tax

Fixing Improper Vehicle Assessments for an OFS Leader

Client:

A large oilfield service provider engaged Merit to help fix incorrect assessments on its fleet of vehicles to reduce the company’s tax liability.

Results for client

$1.1M

Cash Tax Savings

$44.7M

Reduction in Overall Value

Challenge:

  • The client needed updated assessments on its vehicles, as some were over-appraised and others were not taxable.
 
  • Errors created a potential liability of $1.1 Million.
 

Merit Action Plan:

  • Worked with both lessor and lessee of vehicles to identify proper value and situs of each one.

     

  • Negotiated appropriate assessments with dozens of jurisdictions.
 
 

More Rewards of Merit