According to Michael Fedele, he has opened his property tax advisory practice, Fedele Group LLC, offering consultation on business personal property, commercial real estate, apartments, and industrial real estate. Fedele Group began offering its advisory services in November.
Fedele is a property tax advisor and the managing member of Fedele Group. Fedele has been in the property valuation and property tax profession for more than 25 years. His experience includes corporate tax, consulting, and tax assessing. He understands both the municipal and private needs in arriving at a fair tax. Fedele earned the Certified Assessment Evaluator designation from the International Association of Assessing Officers (IAAO). He has also served as a Senior National Instructor for IAAO, teaching and developing courses and seminars for property tax professionals.
Fedele recognized a need for comprehensive, expert advice for all commercial and industrial property owners, especially with smaller companies, who are often ignored by the large accounting and law firms.
His advice extends beyond completing annual tax returns in a way that maximizes legal benefit to his clients by offering valuation advice. Fedele can identify assets that are misclassified, allowing greater depreciation and lower taxes. He can detect property that is being assessed as both real property and as personal property. And, he knows how to present assets that are functionally or economically obsolete.
Property taxes are a significant expense for businesses. Unfortunately, most never question the accuracy of the assessed valuation. These businesses simply adjust their budget line item for property tax. The assessment should reflect the market value of the property or 70% of market value in Connecticut. An over-assessment not only drains money from the operation of the business or real estate, it also lowers the value of the property. An over-assessment makes a property less competitive in the market.
Fedele Group operates in the Greater Hartford region, providing a central location for its clients in the Northeast.