Overview Levy Maintenance

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Tax > Levy Management > Levy Maintenance > Levy Maintenance

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Here is a flowchart of Tax Levy Management > Levy Maintenance > Levy Maintenance. The flowchart does not include obvious actions, such as Save or Close. Common Actions are included only if necessary to completing a task.

Description

Maintain the requested and actual levies which will be used to calculate tax rates.

ClosedJurisdiction Specific Information

Riverside, CA

  • A workflow is initiated for each fund to calculate primary rate and to calculate variance when saving changes on the Maintain Levy Requests screen via Levy Maintenance. If the variance is outside of the expected tolerance, correspondence needs to be generated to the Tax Authorities.
Steps

  1. Review the list of levies by tax year on the Select Levy to Maintain screen.

  2. Enter requests amounts by tax authority fund on the Maintain Levy Requests screen.

  3. Enter modifiers to change initial levy request amounts on the Edit Levy Request Modifiers screen.

Definitions Valuable Vocabulary

Requested Levy >ClosedThe amount of ad-valorem taxes imposed by a tax authority against properties within its jurisdiction. The levy is generally used to finance operation of the authority, to pay down debt, or to provide services.

Levy Basis Value >ClosedA taxable value, in aggregate, of all the properties against which a levy is to be applied.

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

Initial Tax Rate >ClosedThe raw charge per unit of the Levy Basis Value required to produce the levy. This is computed by dividing the Levy Basis Value into the Requested Levy amount.

Levy Modifier >ClosedA 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).

Adjusted Levy >ClosedThe amount of ad-valorem taxes after levy modifiers have been applied to the Requested Levy.

Intermediate Tax Rate >ClosedThe rate obtained by dividing the Levy Basis Value into the Adjusted Levy amount.

Rate Modifier >ClosedA 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.

Actual Tax Rate >ClosedThe rate obtained by applying Rate Modifiers to the Intermediate Tax Rate.

Projected Levy >ClosedThe amount of ad-valorem taxes generated by applying the Actual Tax Rate to the Levy Basis Value.

Related Topics

Tax Rate Calculation

Prerequisites
Levy Management

  • Levy Setup - The types of levies that will be used for levy requests must be defined.

  • Tax Authorities - Set up tax authorities and their associated funds prior to entering levy request amounts.

Configuration
Other Sources

  • Receive the levy request amounts from the tax authorities.

Dependencies

Levies must be set up before Tax Rate Calculation.