Property Tax Specialist at Marathon Petroleum

Houston, Texas, United States

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Not SpecifiedCompensation

Mid-level (3 to 4 years), Senior (5 to 8 years)Experience Level

Full TimeJob Type

UnknownVisa

Oil and Gas, Energy, MidstreamIndustries

Requirements

Bachelor’s degree in Accounting/Business/Finance/related field
Five (5) to ten (10) years of progressive experience, or equivalent skillset level with greater than ten (10) years of experience as a tax professional
Midstream industry experience
Expertise in state and local property tax regulations, unitary valuation techniques, income approach, and cost-based valuation models
Strong written and oral communication skills, with ability to communicate tax issues to non-tax team members
Strong analytical skills and ability to multitask in a dynamic, fast-paced environment
Strong ability to collaborate across teams
Expertise of tax rules and regulations

Responsibilities

Timely preparation and completion of state and local property tax filings for multiple entities and states pertaining to oil and gas operating properties (e.g., gas processing plants, gathering lines, pipelines, refineries, commercial properties, office buildings), including gathering information from other departments, compiling documentation, and using tax software
Determine appropriate property tax valuation standards, recommend and assist in implementing property tax policies and procedures to ensure beneficial treatment for the Company and affiliates
Support monthly and quarterly accrual, asset, and tax account balance variance analysis and reconciliations
Develop and implement value-add tax planning strategies; research and identify proactive opportunities for tax savings utilizing abatements, exemptions, and regulatory/legislative analysis
Negotiate tax settlements at all stages of the valuation and/or appeal process
Provide property tax valuation expertise, advice, and tax estimates for management on existing assets/operations, tax planning for proposed projects/investments, and major transactions
Review and interpret existing and proposed property tax laws, regulations, policies, and judicial interpretations to minimize liability and risk; advise stakeholders
Collaborate with internal staff and industry tax organizations to analyze and develop action plans addressing adverse regulations
Initiate appeals and legal challenges on valuations and regulatory issues as directed by Tax management
Coordinate property tax audits, defend returns before taxing jurisdictions, provide expert witness testimony, secure third-party witnesses/legal counsel, and prepare recommendations on audit/litigation settlements
Represent the Company and affiliates before state tax commissions, departments of revenue, local boards of review, and at tax conferences/industry meetings

Skills

Key technologies and capabilities for this role

Property Tax ComplianceState and Local Tax RegulationsUnitary ValuationIncome Approach ValuationCost-Based ValuationTax SoftwareTax FilingsValuation AnalysisAccrual AnalysisVariance AnalysisPipeline ValuationOil and Gas Taxation

Questions & Answers

Common questions about this position

What skills are required for the Property Tax Specialist role?

The role requires deep technical knowledge of state and local tax regulations, proficiency in unitary valuation techniques, income approach, and cost-based valuation models, strong written and oral communication skills, robust analytical skills, and the ability to multitask.

Is this a remote position or does it require office work?

This information is not specified in the job description.

What is the salary or compensation for this position?

This information is not specified in the job description.

What is the company culture like at MPC?

MPC is committed to being a great place to work that welcomes new ideas, encourages diverse perspectives, develops its people, and fosters a collaborative team environment.

What makes a strong candidate for this Property Tax Specialist position?

A strong candidate demonstrates expertise within the company and the broader industry, leveraging relationships to achieve results, along with the technical tax knowledge and skills required for managing multi-state property tax compliance and valuations.

Marathon Petroleum

Refines and markets petroleum products

About Marathon Petroleum

Marathon Petroleum Corporation operates in the energy sector, focusing on refining and marketing petroleum products. They process crude oil into usable products like gasoline, diesel, and jet fuel at the largest refining system in the United States, located in Findlay, Ohio. Their extensive network includes branded retail locations across the country, primarily under the Marathon brand, serving individual consumers and businesses that need bulk fuel supplies. Additionally, they have a midstream subsidiary, MPLX LP, which gathers, processes, and transports crude oil and natural gas, facilitating the supply chain from raw materials to refineries. Marathon Petroleum's integrated business model allows them to control multiple stages of the supply chain, optimizing operations and reducing costs, which enhances profitability. The company's goal is to maintain strategic growth and operational excellence while serving a diverse range of clients efficiently.

Findlay, OhioHeadquarters

1887Year Founded

IPOCompany Stage

EnergyIndustries

10,001+Employees

Benefits

Health Insurance

Dental Insurance

Vision Insurance

Paid Vacation

401(k) Company Match

Parental Leave

Professional Development Budget

Performance Bonus

Risks

Volatility in crude oil prices can impact MPC's profitability.

Stricter environmental regulations may increase operational costs for MPC.

The rise of electric vehicles could reduce demand for MPC's gasoline products.

Differentiation

MPC operates the largest refining system in the United States.

The company has a strong integrated business model from refining to retail.

MPC's midstream operations through MPLX LP enhance its supply chain control.

Upsides

MPC's focus on operational excellence ensures competitive advantage and profitability.

Recognition for energy efficiency by the EPA highlights MPC's commitment to sustainability.

MPC's extensive retail network strengthens its market presence and customer reach.

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