Ryan, a Dallas-based tax consulting firm, today announced the acquisition of a pure-play property tax management firm Paradigm Tax Group (PTG), according to a press release.
Previously, PTG was the national property tax practice of KPMG. Today their consultancy spans across real and personal property tax appeals, pre-acquisition planning due diligence, complex property consulting, and business personal property tax compliance. The PTG website says it provides services to clients on their commercial, industrial, multi-residential and special purpose properties.
“This acquisition is consistent with Ryan’s strategy to hire and acquire the industry’s top professionals and positions us well as we continue our mission of becoming the number one global brand in tax,” G. Brint Ryan, chairman and CEO of Ryan told Consulting.us News.
“Ryan is a natural fit for our team and our clients,” said Rob Foster, CEO of PTG, in the release. “The synergies between our two firms are numerous: a track record of positive results, a focus on superior client service, and a positive workplace culture for our team members to grow their careers.”
Ryan has also recently acquired Greystone Property Tax Advisors in May and Marvin F. Poer and Company (the second-largest property tax consulting firm in the country) in February. It also bought Fundingportal earlier in July, a software firm in Toronto that matches clients with opportunities for funding and grants.
Property tax solutions are seeing notable activity this year, alongside an increasing focus on real estate and proptech in lieu of rising inflation. CentralSquare, a public sector technology firm, launched its Property Tax Software solution to replace legacy systems and decrease corporate risks.
Another example is Ownwell, an Austin-based proptech specializing in commercial and residential real estate tax, that raised a $5.75 million seed round led by First Round Capital in May 2022. It aims to use the fund to develop its technology that is used to detect customers and lend its services to reduce the tax bills of customers who are overpaying their property taxes. The plan includes increasing hiring in sales, marketing, operations and its local expertise.