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Construction Cost Reporting Services
The valuation of major industrial facilities is highly governed by provincial regulation and incorporates subjective valuation standards. Alberta’s assessment legislation requires that all construction project costs are reported to the assessing authority, and failure to comply can result in losing the right to appeal an assessment. This can increase the probability of being over assessed for the life of a plant or facility, resulting in overpaid taxes and lower profitability.
Ryan’s Canadian Property Tax practice leverages years of industry expertise and advanced technology to analyze major construction projects and ensure that all reporting requirements have been met, all available tax reductions have been quantified, and all facilities are assessed as low as possible under existing provincial legislation. Our professionals fully understand all of the valuation issues relating to the analysis of an industrial project from conception to completion and provide outstanding value and tax savings through comprehensive construction cost reports that form the basis for current and future valuations of our clients' facilities.
Services Provided
Ryan ensures the lowest assessed value possible for our clients' facilities by utilizing a proven construction cost reporting methodology, which includes:
- A review of all project general information to set valuation parameters
- A draft analysis outlining expected results and additional informational requirements
- Ongoing site inspections with the assessor to provide net assessable cost estimates for municipal budgeting purposes
- A detailed analysis of all project scope changes and reworks, to determine the correct associated costs for the determination of the lowest net assessable value possible
- An independent valuation of buildings using costing manuals to ensure true market value is determined
- The analysis and removal of all interference costs as being abnormal in nature for assessment purposes
- The removal of excess labour costs beyond standard labour productivity rates from the net assessable cost base
- A review of indirect construction costs to ensure that construction management costs are discounted at similar rates to direct labour reduction claims
- The provision of ongoing and regular client and assessor status reports
- A final formal valuation report outlining all non-assessable costs and the rationale behind the claims presented to the assessing authority
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British Columbia Budget 2012
On February 21, 2012, Finance Minister and Deputy Premier Kevin Falcon announced British Columbia’s 2012 budget. Designed to keep the province on track for a...
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