ePropertyTax has created an application that gives its clients access to the Internet and a database of information that calculates the property taxes due on a property and manages said tax information. "We provide bundled solutions--we provide an application service and data management," he explains. Cushman & Wakefield's agreement with the company will allow C&W clients to have access to the technology and provides ePropertyTax with the cash flow needed to finance its marketing endeavors, according to Nearhood.
"Right now our clients include six of the top 15 REITs and we're branching out from REITs to include more corporate owners such as retailers and manufacturers," he says of the company's future. "They have slightly different problems with property tax management--they have corporate real estate and personal property tax issues and so their needs are somewhat different than REITs. They generally outsource and may not have in-house property tax management and we would do that."
Also, he announced that in the spring the company will be launching its new product, bringing on-line tax projection to the market. This will aid buyers of property for whom property tax is one of the most critical items in the due diligence process. It will take existing liabilities and calculate the future property tax projections.
Todd Parker, COO of ePropertyTax, in a written statement also confirming the agreement notes, "Property Tax Office is unique in that it uses pre-populated content to make the process of managing complex property data more efficient and accurate. We have the only product that accurately processes property tax information from any jurisdiction in the country. The web-enabled aspect of our product allows us to conveniently distribute this information to the many parts of an organization that need accurate and reliable property tax information."
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