The Property Tax Advisor for Special Assets
Real Estate Led
Last Dollar Recovered
Capital-intensive infrastructure specialists
since 1999​
Average Reductions
35-50%
RSVP
We attended and summarized the hottest takes on data center valuation and tax strategy.
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Why Assembly
Assembly was built from a real estate investment team who engages every assignment as a real estate problem before it becomes a tax argument. That sequence changes which arguments get made and how much gets recovered.
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Every engagement is principal-led. No junior staff. No assigned national roster. A custom local team selected for the specific asset and jurisdiction, chosen with the same discipline you would apply to any capital markets decision.
Whatever your last advisor saved you... There was more. There's always more.
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The assets CFOs lose sleep over. We handle the tax.
Hyperscale + Solar: AI-Ready Sustainable Infrastructure
Real Property Tax Appeals
Our core practice. We build the case, assemble a custom local team of attorneys and appraisers for the specific asset and jurisdiction, and manage every level of the appeal from filing through resolution. We identify reduction opportunities, collect refunds, audit assessments against lease obligations, and recover overpayments from landlords and tenants where lease structures require it. Real estate intelligence is the foundation of every argument we make.
Business Personal Property
Misclassified and over-depreciated equipment is recoverable across every capital-intensive asset class. For companies with in-house personal property teams, we seamlessly integrate as a strategic and valuation resource, supporting your existing team with real estate intelligence, appeal strategy, and specialized expertise your team may not have in-house. For companies without dedicated BPP staff, we manage the full process including rendition review, depreciation audits, misclassification correction, and appeal through resolution.
Sales &
Use Tax
For companies with in-house sales and use tax teams, we work alongside your existing staff as a coordination and strategy resource, supporting exemption applications, audit defense, and overpayment recovery without disrupting your internal process. For companies without dedicated resources, we identify overpayments, manage exemption applications, and coordinate specialist firms fully integrated with the real property and BPP strategy. Either way the result is the same: total tax exposure management across all three assessments.
Real Estate Advisory
Before You Buy
(real estate only advisory)
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Pre-Acquisition Tax Exposure
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Due Diligence
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Corporate M&A
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Bankruptcy and Distressed
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Stalking Horse Bids
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Equity and Debt
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Lender Valuations
Before You Sell​
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Sale-Leaseback
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Pre-Marketing Tax Assessment
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Lease DIagnostic
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Landlord and Tenant Recovery
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Surplus Asset Disposition
While You Own It
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Quarterly NAV
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REIT Tax Exposure
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PILOT Audits
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Second Opinions
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Cost Optimization
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Cost Segregation
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Portfolio Optimization​
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Refinancing Analysis
At cost.
No retainer.
One business day response.
ALIGNMENT
100% contingent fee on tax savings.
No savings, no fee. Cost-benefit analysis provided before engagement.
Portfolio reporting, tax calendars, risk analysis, budget forecasting and annual project tracking included.
Confidential second opinion available if you have a current advisor. ​
CU
2026
MARKET INTELLIGENCE​
Attending DCD>Connect New York, March 23-24?
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Let's talk: Virginia's tax cliff, Georgia's $2.5B shockwave, and what the AI buildout means for your assessment baseline.
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From "Sticks and Bricks" to Megawatts
Assessors are valuing data centers and AI infrastructure based on power capacity rather than traditional real estate metrics. The gap between what assessors claim and what the market supports has never been wider.
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VIrginia & Georgia Are Signaling Nationwide Change
Virginia's push to condition its data center sales tax exemption and Georgia's projected $2.5B in forgone sales tax revenue for FY2026 are prompting reassessors to reprice power-intensive assets well above building shell value across markets nationwide.
We Saw It Coming And Delivered Results
We've been advising on data centers since our roots in acquisitions and development in 1999, long before the AI/HPC boom drew assessor attention. A key example: two Northern New Jersey facilities where we secured 39% reductions and $2.5M+ in multi-year savings at market peak 2021-2024. We proved functional obsolescence early and reframed highest-and-best-use to reset valuations below land value in a premium 100% leased park, well ahead of the downturn and the shift to power-based assessments.
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We’re Already Planning for 2027 and Beyond
The Window Is Open and Narrowing Assessment cycles, appeal deadlines, and policy shifts are moving simultaneously. If your assessments are rising or you are facing power-based revaluations, the time to act is before the next notice arrives.
Anne Katzen Pennington
We handle the property tax so you can focus on Uptime. Because the only thing worse than a server crash is an assessor with a calculator and a dream.