Personal Property Tax Audit Services

The Vendor is required to provide personal property audit services on the town's business personal property taxpayers as authorized by the statutes.
- Candidates must also demonstrate maturity, sensitivity and tact in dealing with Town Taxpayer’s confidential books and records.
- Candidates should have the ability to apply technical skills in accounting matters to arrive at accurate cost figures for personal property reporting purposes.
- Firm will initiate contact with each selected account by letter, advising the taxpayer of its selection by the Town for a personal property audit and requesting access to their records.
- Firm will arrange for the physical inspection, examination and review of each account's records.
- Firm will review, compare and reconcile each account's personal property tax declaration for each relevant year with federal and state income tax returns and/or internal fixed asset records maintained by the taxpayer or other relevant records, including but not limited to audited financial statements.
- Firm will analyze the leased equipment used by each taxpayer in each relevant fiscal year.
- Firm will review the listing of items of fixed assets recorded as leasehold improvements of items the taxpayer claims to be included as realty. The selected firm will review to determine if any items of personal property are not being reported.
- Firm will review the list of items purported to be out of town; declarations filed with other towns and shipping documents; examine for accuracy for items not reported and will confirm with site visit.
- Firm will review receipts for items reported as sold or scrapped; examine and reconcile sales and salvage receipts; and confirm with site visit(s).
- Firm may be asked to serve as a witness or otherwise participate in the conduct of a formal administrative or judicial hearing in connection with an account making an appeal of any increased assessment resulting from the selected firm's audit efforts.
- Firm will participate in discussions with taxpayers seeking to resolve disputes or disagreements as to the valuation of the taxpayer's personal property.

- Contract Period/Term: 3 years
- Questions/Inquires Deadline: December 8, 2025