Set Up Tax Rate Calculation
Description
Configure a rate calculation event for a selected rate year, rate type, and levy value build and one or more levies for the tax year.
SETUP: See Levy Management, Levy Management Setup and Tax Rate Calculation for any applicable prerequisites, dependencies and setup information for this task..
Jurisdiction Specific Information
Steps
-
Enter the Description of the tax rate calculation.
-
Select the Rate year or accept the default.
-
Select the Rate type for which to calculate rates.
-
Select the Levy value build to use as the levy basis. The assessment rolls in the levy value build are displayed at the bottom of the screen.
-
Select the Tax year of the levies to use.
-
Select the checkbox for each levy to use in the rate calculation.
-
Click Finish to save the settings and return to the Maintain Tax Rate Calculations screen. From there you can select to process the calculation on the Calculate Tax Rates screen.
-
Click Cancel to discard your changes and return to the Maintain Tax Rate Calculations screen.
-
Tips
Each rate calculation event is a unique combination of tax year, rate type, and levy. Although you can run multiple calculations on the same combination, only one rate calculation event can be posted.
Note that if the same tax authority fund is used in more than one levy, the rate for the last levy posted will override any earlier posted rate for the TAF, if all the other key fields for the TAF rate are identical The key fields are TAF, Source County ID, Rate Type, Rate Value Type, Rate Class, and Amount Type.
Only closed levy value builds are available for rate calculation.