Low Value Ordinance Report

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Personal Property Appraisal > Business Master > Advanced Search for Business Master > Maintain Business Master > [Common Actions] > Context Sensitive Reports > Personal Property Appraisal

Description

Low Value Ordinance is a minimum assessed value determined by the state or county assessment laws for a taxpayer property to be assessable. It exempts taxpayers whose assessable property value is insufficient to justify the administrative burden of assessing and taxing the property.

Lessors of business personal property are required to report property leased to others in the county. This property may be scattered around the county, however, and could escape assessment under the county Low Value Ordinance unless it is identified as a group of assets owned by the same assessee.

By determining a combined value for a lessor’s property on a county-wide basis, the county can identify assessable property that might otherwise have fallen under the Low Value Ordinance.

This report is used to determine Low Value Ordinance amounts for specific business account masters and compare that amount to the actual Low Value Ordinance of the county.

IMPORTANT

A Personal Property, Effective Date application setting controls the acceptable low value. Set this up prior to generating this report as follows:

  1. Go to Configuration > Application Settings > Maintain Application Settings.

  2. Set the Effective Date and select the Filter By Module of Personal Property.

  3. Click Edit on the Low Value Ordinance application setting and set as applicable to your jurisdiction.

  4. Click Save and close.

Steps

NOTE: If selecting this report as a context-sensitive report from Common Actions on the Maintain Business Master screen, all fields are populated with the relevant information for the specific account selected.

  1. Enter the Business Master Number or accept the default.

  2. Enter the Tax Year or accept the default.

  3. The Low Value Ordinance field is defined by the Low Value Ordinance application setting but you can enter the desired value.

  4. Accept the current date Effective Date default or enter the date.

  5. Click View Report to open a separate browser window of the report or click Submit to Batch to open the Monitor Batch Processes screen from which you can select the process to open the View Batch Process Details screen from which you can select the report.

    • Click Close to end the task.