Maintain Current Tax Amount

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Description

This screen is intended for South Carolina counties and may not be available in your jurisdiction.

Pull subsequent year's taxes and penalties into the Tax Sale to calculate the minimum bid. The current year tax is also included in the sale lien.

The following Tax Sale Settings need to be set for this process. Important: These settings must be applied and saved, even if you want the settings set to 0 or false. When first deployed, these settings are null.

  • Current Tax Forecast Rate

  • Current Tax Penalty Rate (displayed in the screen's header)

  • Calculate Current Tax Based on Rate

Steps

  1. Verify the Tax Sale information displayed on the screen:

    • Tax sale Id

    • Sale year

    • Sale date

    • Description

    • Penalty to be included - This is the amount from the Tax Sale Setting Current Tax Penalty Rate.

    • Verify or edit the Tax year. The default is the current tax year.

  2. Click Add Tax to add the current year's tax to the tax sale.

    • When the Tax Sale Setting 'Calculate Current Tax Based on Rate' is set to True, the setting value for 'Current Tax Forecast Rate' is multiplied by the Tax Sale Item amount due to determine the amount due. Penalty is then calculated based on the value of the 'Current Tax Penalty Rate'. The amount due and the penalty are combined to give the Tax Sale Item Current Tax Amount and the Minimum Bid Amount.

    • When the Tax Sale Setting 'Calculate Current Tax Based on Rate' is set to False, the tax amount due is pulled from Levy Management. Penalty is then calculated based on the value of the 'Current Tax Penalty Rate'. The tax amount and the penalty are combined to figure the Current Tax Amount. The current tax amount is combined with the Tax Sale Item amount due and becomes the Minimum Bid Amount.

    OR
    Click Remove Tax to remove the tax. You advance to the Monitor Batch Processes screen.

    • The Tax Sale Item amount due becomes the minimum bid amount and the Current Tax Amount is set to 0.

  3. Click Close to end the task.

    OR
    Click List to return to the Maintain Tax Sales screen.

Tips

Cashiering

When Tax Sale Payments are posted, only the delinquent year is paid. The Current Tax Amount and Overbid amount are placed into surplus.

  • If the property is redeemed, the redeemer pays the Minimum Bid Amount plus interest on the entire Bid (Minimum Bid Amount + Overbid). The buyer is refunded the entire Bid.

  • If the property in not redeemed, the surplus amount is used to pay the current taxes and the property is transferred to the Buyer. Any overbid surplus left over remains available for the Taxpayer to claim.

Cashiering looks for the Tax Sale Setting 'Create Advance Pay Surplus for Tax Sale'. When set to True, Cashiering creates an Advance Pay - Tax Sale surplus of the Current Tax Amount. Any amount that is overbid is placed in Surplus as an Overbid type. If there are bundled items, the overbid amount is used to pay any delinquent taxes in the bundle; the remaining amount is placed in Overbid surplus.

Agency items have no buyer payments associated with them after a tax sale. If a Tax Sale Item is redeemed that includes a calculated current tax amount, then:

  • the full Minimum Bid Amount is used as the amount due;

  • interest is calculated on the Minimum Bid Amount and can never exceed the calculated amount;

  • any overage is applied to the Advance Pay Surplus Type. This amount is also refunded to the Buyer during a redemption.
Related Topics

Tax Sale Maintenance