Levy Value Build
Description
The levy value build creates, calculates, and stores value types to allow final modification of tax calculation values for Tax Roll Processing beyond that provided by the cadastres (assessment rolls) from Assessment Administration. Levy value build was created to support installations where any of the following occur:
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Tax Rates are calculated by the Auditor/Treasurer/Tax Collector rather than by the individual tax authorities.
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Growth (or decrease) in value of individual properties is aggregated for each TIF and reallocated evenly over all Revenue Objects in the TIF.
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Growth (or decrease) in value is aggregated and reallocated to the taxing authorities differently than the tax rates would normally dictate.
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If none of these is true in your installation, the Levy Value Build is still required, but it may simply do nothing.
Levy Value Build (LVB) requires a locked Assessment Roll Level. It is required for Rate Calculation and Tax Roll Processing. A build can be created for every roll level to preview Rate Calculations or Tax Roll data before the Assessment Roll is closed. A LVB can be removed, but should only be done if there are no Rate Calculations or Tax Roll associated with it. Delete the Rate Calculation or reverse the Tax Roll first.
Steps
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View and maintain the list of levy value builds on the Maintain Levy Value Builds screen.
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Create levy value builds and select the assessment rolls to use to build values on the Add Levy Value Build screen.
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Run all the processes required to create the actual values on the Process Levy Value Build screen. Close each levy value build when calculations are final to make them available for selection in Tax Roll Processing.
Prerequisites
Assessment Administration
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Assessment Roll Processing - Create an assessment roll with one or more locked levels before creating a levy value build.
Levy Management
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Override Aggregate Values - For certain levy value build calculations, aggregate value overrides need to be entered first.
Configuration Menu
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Systype Maintenance
Set up any Levy Value Type (Build Type) systypes you need to categorize levy value builds.
Some Levy Value Types are system-provided and not deletable.
Other Sources
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(Minnesota only) Your (Undefined variable: Variables.Implementation) must run the most recent AA Setup spreadsheet to insert the Levy Value Type systypes used in calculating Fiscal Disparity into the database.
Dependencies
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A levy value build is required for Tax Rate Calculation.
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Levy value builds must be closed prior to Tax Roll Processing.
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The levy value build is used to calculate Fiscal Disparity for the State of Minnesota.