Set Up Rollback Bills
Description
Configure the information needed to calculate the rollback bills and review the effect on each revenue object.
The revenue objects you select on Select Revenue Objects for Rollback are loaded into this screen when you click Next with the first revenue object displayed.
NOTE: Rollback bills can be created even if there is no existing bill for the year being rolled back. When configuring rollbacks, a dropdown list displays for years that do not have the tax bill to allow selection of the Tax Roll under which the new bill would go. For years that have bills, the dropdown does not display.
SETUP: See Levy Management, Levy Management Setup and Deferred Tax Rollback Billing for any applicable prerequisites, dependencies and setup information for this task.
Steps
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Review the Revenue Object Information. To view the information for a different effective date, select the date in the panel header and click Update Information.
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Select a Value group to roll back charges for (real or personal property, special assessments, business revenue).
NOTE: You can limit the value groups displayed by selecting the Value group type from the list in the panel title bar. - Enter the Rollback Configuration settings to determine how the rollback bill is processed.
Select the Deferral type to roll back.
Enter the Reason code to attach to the rollback bill.
Enter the Rate year of the rates which will be used to calculate the rollback taxes. You can choose the year of deferral or the current year, and if you choose the Current year, you can specify the tax year to use as the current year.
Select the Rate type to use from this year.
Enter the Billing date for the rollback bills.
Select the checkbox if you would like to Charge back interest on the rollback bills.
Accept the Billing date default or enter the billing date.
Optionally enter the value for number of Acres.
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- Enter any user-defined data in the Additional Configuration panel.
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NOTE: UDFs for this panel are set up via Configuration > User-Defined Fields > Search for User-Defined Fields. Click the New button to navigate to Maintain User-Defined Field. Select the Module of Tax Levy Management and the Object Type of Tax Deferred Value and check the Is Active checkbox to display the label on this screen. Enter a field name Label, for example, Acres, if you want to set up rollback billing for acreage. Check the Is Required checkbox if you want data entry required in the field. Enter a Code for the UDF. Enter the field length and Display order, if applicable. If the UDF is not set up for this screen, nothing displays in this area of the Additional Configuration panel.
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NOTE: When entering a decimal for any UDF rate fields on a screen, enter percentages as in the following examples:
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3.17% would be entered as 0.00317
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50% would be entered as 0.5
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Apply the percentage for calculating rollback taxes in the Rollback Effect panel.
The grid shows the total deferred and total rollback values, and the rollback charges and deferred value balance to date for each tax year in which there were deferred taxes.-
You can apply the same rollback percentage for all tax years by entering a percentage in the panel heading and clicking Apply.
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To rollback taxes for one or more tax years individually, enter the rollback percentage for each year.
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Select another revenue object to review from the work list tab
on the sidebar.
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After reviewing all revenue objects and setting the rollback configuration and percentage, click Next to proceed to Process Rollback Bills to schedule the process.
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Click Previous to return to Select Revenue Objects for Rollback.
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Click Close to end the task.
Tips
Enter the rollback percentage as the actual percent value, not the corresponding decimal representation. For example, for 25%, enter 25, not 0.25. You can enter fractional percentages, such as 25.50.
If back interest needs to be applied to a rollback bill, you must first specify the functional calendar event type to use for the rollback interest date in Maintain Application Settings.
Make sure the application setting "defer taxes if true, defer values if false" is set correctly for how your jurisdiction processes deferred inventory.