New Property Tax Partnership Targets Savings for Newspapers

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Morrison and Head LP Industrial Division, a national industrial property tax valuation and consulting firm, and Inland Newspaper Machinery Corporation, a leading newspaper equipment brokerage and appraisal company, have recently joined forces to provide property tax services to newspapers coast to coast.

Morrison & Head and Inland delivered major tax savings when we needed it most
(controller, Tampa Tribune)

Morrison and Head’s 30+ years of industrial property tax valuation, negotiation, and appeal experience combined with Inland’s nationally recognized knowledge of the used newspaper equipment market provides publishers a “unique resource for achieving significant annual property tax cost savings”, says John Woolard, Managing Partner of Morrison and Head Industrial. “We are the only property tax firm in the country that specializes in helping newspapers”

According to Beau Campbell, President of Inland Newspaper Machinery Corporation, “a recent national survey of 400 daily newspapers revealed that operating cost reduction initiatives are a priority for over 80% of the respondents. Our property tax savings partnership with Morrison and Head helps newspapers achieve this goal”

“Since forming our partnership, we have already helped over 20 newspapers, including the Orlando Sentinel, Atlanta Journal and Constitution, Houston Chronicle, and Boston Globe, achieve an average first year savings of over $270,000”, says Woolard. “For example, we recently completed a project for a major Florida metro that produced a 55% reduction in assessed value and a $350,000 first year savings. In another recent case, we secured a $295,000 refund for a major Texas metro after their former consultant had ‘signed off’ on the assessed value. These savings will continue to compound year after year”

“The key to a successful property tax appeal for special use newspaper equipment, including presses and mailroom equipment, is a solid technical understanding of the assessor’s valuation methodology coupled with an in depth knowledge of the newspaper equipment market”, adds Campbell. “This one-of-a-kind partnership between an experienced industrial property tax consultant and a newspaper equipment expert provides newspapers a proven solution for significant annual cost savings”

About Morrison & Head, LP
Morrison & Head, Industrial/Complex Property Division specializes in identifying, developing, and implementing innovative property tax savings initiatives exclusively for manufacturers and distributors. With an emphasis on long-term client relationships, quality service, and proven performance, Morrison & Head LP's 125+ years of collective commercial and industrial property tax experience has consistently generated proven results for our clients.

About Inland Newspaper Machinery Corp
Inland Newspaper Machinery LLC is recognized globally as a reliable dealer engaged in buying, selling, rebuilding, customizing and installing newspaper presses and related production equipment.

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