Real Estate Portfolio Management / Cost Administration / Cost Administrator

View Tax Costs Report

From the View Tax Costs reports, you can review tax costs to facilitate strategic decisions or internal audits. The report is restricted to show only recurring, scheduled, or actual costs which are assigned to properties or parcels, that have a cost type of TAX (that is, their cost categories are of cost type = ‘TAX’.)

Export. The report show costs on three tabs: Recurring costs, Scheduled Costs (Needing Authorization), and Actual Costs. You can export the data on any of the tabs to XLS format.

Filter. You can filter the report to review tax expenses by:

• Property and parcel
• Geographical location, such as by state, city or county
• Tax expenses by Tax Authority Contact
• Scheduled or actual tax costs due for a date range
• Overdue Taxes. Overdue taxes are those Scheduled or Actual Costs that have a Date Due that is less than or equal to the current date, and a Date Paid value that is NULL, and that have a Cost Category with a Cost Type of TAX.
• Tax Payments Needing Authorization (these costs are shown on the Scheduled Tax Costs - Needing Authorization tab)

Reviewing overdue scheduled or actual costs

You can review overdue taxes only for either scheduled or actual costs, depending on which tab you are working from (“Scheduled Tax Costs – Payments Needing Authorization” or the Actual Costs tab)

On either of these tabs, the summary panel displays the total number of records in the grid, as well as the totals for Amount Expense and Amount Income.

The grid displays the list of scheduled or actual tax costs that met the filter criteria.

You can:

• Export the summary to an Excel report by clicking XLS above the Summary pane.
• Export the detail data showing in the grid to Excel by clicking XLS above the grid.
• Review only overdue taxes:
  1. Select either the “Scheduled Tax Costs – Payments Needing Authorization” tab or the Actual Costs tab.
  2. If needed, use the Filter to set a restriction.
  3. Click the Show Overdue Only button.

     The grid further restricts the cost records already displayed in the grid to include only tax costs that are overdue (that is, Date Due <= current date AND Date Paid value is NULL.)

Information shown in the grid for scheduled and actual costs:

The Tax Costs report is based on the Costs report. See Costs report for a description of the data shown.

In addition to the data shown in the Costs report, the Tax Costs Report includes the following tax-related fields:

Tax Bill Number. The number of the tax bill. This facilitates tracking payments.

Tax Type. The type of tax, such as property or school. By entering the tax type, the application is able to break down the yearly tax for property and school.

Tax Period in Months. The number of months covered by this tax bill. The application uses this value to calculate the Yearly Tax Paid shown int he Property Abstracts report.

Tax Value - Assessed. The assessed value for this tax expense. The application uses this value to calculate the Value – Assessed % Tax shown in the Property Abstract report.

Tax Common Level Ratio. The ratio of assessed value to current market value. The application uses this value to calculate the True Assessed value and the Yearly Tax Paid shown in the Property Abstract report.

Tax Authority Contact. Select a contact for the tax. The list is restricted to contact type = "TAX AUTHORITY" or "TAX COLLECTOR".