Levy Groups

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Tax > Levy Management > Levy Maintenance > Levy Groups

Navigation Flowchart - Roll-Based Assessment

Navigation Flowchart - Event-Based Assessment

Description

Define the types of levies which will be used to enter levy requests and then to calculate tax rates.

Steps

1. Search for and view the existing levies on the Search for Levy Groups screen.

2. Select the attributes, including tax authority funds and levy modifiers, which define a levy on the Edit Levy Definition screen.

   • Select any TAGs which should not be included in the levy for certain tax authority funds on the Exclude TAGs from Levy Funds screen.

   • Define the rate value types which will be used when calculating tax rates from this levy on the Set Up Levy TAF Rate Value Types screen.

   • For each modifier which can be applied to a levy, select the funds the modifier will apply to on the Select Levy Modifier Funds screen.

Valuable Vocabulary

Levy Basis Value >A taxable value, in aggregate, of all the properties against which a levy is to be applied. This comes from the Levy Value Build.

Levy Basis Type >An attribute that defines a broad category or grouping of Levy Basis Values, such as "taxable market" or "tax capacity".

Levy Modifier >A value that adjusts a Requested Levy. It may reduce the levy because of revenue derived from a non-tax source (such as oil royalties) or may increase the levy because some of the tax collected is used to fund activities not directly supported by the authority (contributions to a pooled urban development fund).

Levy Group >A named grouping of Tax Authorities, Funds, and TAGs used for calculation of a particular type of tax rate

Rate Modifier >A value that reduces or increases the Intermediate Tax Rate. The rate my be increased or decreased because of statutory rate limits and external revenue sources (see also Levy Modifier), or because services are not provided in certain areas that fall within the taxing authority's purview.

Prerequisites

Levy Management

• Tax Authorities - Set up tax authorities and their associated funds.

Configuration Menu

• Systype Maintenance - Set up any Levy Basis Type systypes you need to track levies. Several Levy Basis Types come loaded with Aumentum and cannot be removed.

Dependencies

Levies must be defined before Levy Maintenance and Tax Rate Calculation.