Tax Compliance Inc. has released an upgrade of its Property Management Tax System with improved asset-mapping tools.
The tools have been expanded to include all property types. The asset-mapping layer streamlines the process of classifying assets by linking users’ internal asset classification codes to each jurisdiction’s set of asset classifications. Users can continue to establish default asset classification mappings on a jurisdiction-by-jurisdiction basis.
Version 3.8 also adds automatic real-time assessment comparison during tax bill entry, and allocation of taxes to accounts payable based on user-defined percentages.
An Appeal Manager feature helps tax professionals navigate the appeal process and manage property expenses. The software can keep tabs on consultant fees and appeal-related expenses to determine the net savings for each property tax appeal. The user interfaces shows all the appeals and related pending tasks, which can be filtered and sorted.
Tax Compliance also added several features to help minimize taxes and offer more control over payment allocation. The software automatically compares the assessor’s opinion of value with the user’s opinion of value when tax bills are entered to see if the assessment falls within the threshold the user has specified. The system issues a warning when the threshold has been exceeded. Tax payments for all types of property can be allocated to multiple AP accounts using predefined percentage algorithms.
