Property Tax FAQs

Where can I get an interest statement for YE tax reporting (year-end balance)?
Property Tax FAQs

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Why was I charged sales tax even with an exemption certificate?
Property Tax FAQs

PEAC Solutions, as the owner of the leased equipment, is required to report all leased equipment, even if the equipment…

Can PEAC Solutions fax or mail me a copy of the actual tax bill?
Property Tax FAQs

The property tax bill PEAC Solutions receives contains information on all leased equipment in a given jurisdiction as opposed to…

Why is the lessee billed taxes on a lease?
Property Tax FAQs

Each jurisdiction that collects personal property taxes, taxes the owner of the equipment. PEAC Solutions is the legal owner of…

How does PEAC Solutions calculate the tax estimate?
Property Tax FAQs

PEAC Solutions uses tax software that is used by many leasing companies to compute the tax estimate. The software takes…

Why does PEAC Solutions charge taxes when other leasing companies do not? 
Property Tax FAQs

Other companies do charge their customers taxes usually by building the cost into the lease factor rate. PEAC Solutions does…

Who is the legal owner of my leased equipment, and who pays business personal property taxes on it?
Property Tax FAQs

PEAC Solutions, as the owner of the leased equipment, is required to report all leased equipment, even if the equipment…

What is a tax true-up?
Property Tax FAQs

A true-up is when PEAC Solutions reconciles the estimated taxes paid by the lessee to the actual tax billed by…

Why is the lessee billed or refunded for a property tax true-up?
Property Tax FAQs

The property tax true-up is the reconciliation of actual property taxes paid by PEAC Solutions on the leased equipment against…

Why is there sales tax on property tax?
Property Tax FAQs

Under the terms of the lease, a lessee is reimbursing PEAC Solutions for property taxes paid on the lessee’s behalf.…

Why is the lessee billed for property taxes when the lessee did not own the equipment for a full year?
Property Tax FAQs

Each taxing jurisdiction has a different lien date or fiscal start date for the year. There are 4 different lien…

If PEAC Solutions owns the equipment, why does the lessee have to pay property taxes?
Property Tax FAQs

Under the terms of the lease agreement, the lessee agreed to reimburse PEAC Solutions for any such taxes paid on…