Estimated Teeter Loss Report

Navigate: Tax > Tax Sale > Property Sale > Reports > Estimated Teeter Loss Report

Description

Generate a report that shows teeter loss by item number, PIN, number of offerings, original amount, minimum bid amount, estimated sales cost, and maximum teeter loss.

Steps

1. On the Print Estimated Teeter Loss Report screen, select the tax Sale year.

2. Select the associated Tax sale based on the year.

3. Optionally enter an Advertising estimate per item.

4. Optionally enter a Recording estimate per item.

5. Optionally select to Include items which are in multiple sets.

6. Click Print to generate a PDF of the Teeter Loss Report.

   • Click Close to end the task.

Common Actions

View Batch Processes - Navigate to the Monitor Batch Processes screen on which you can view the report progress.

Tips

You have the option of setting up the fee category to be used for printing the Teeter Loss Report (e.g., Advertising fee). To set up:

• Navigate to Tax Sale > Property Sale > Property Sale Settings.

• Locate the Tax Sale Fees panel.

• Leave the Applied to field blank.

Security rights can be set to allow or prevent certain user roles to print the Teeter Loss Report. To set up these rights, navigate to Configuration > Security and User Maintenance > Roles > Maintain a Role. Find a role to Edit. You are directed to the Edit Role Details screen.

• Expand the Menu Items tree to Tax > Tax Sale > Property Sale > Reports > Teeter Loss Report.

• Set the rights for the role and Save.

• Click Details to Edit Additional Role Details, as desired.

Configuration, Prerequisites, and Setup

• Set up the General Fund via Levy Management via Tax > Levy Management > Setup > Tax Funds > Search for Tax Funds > Set Up Tax Fund Details.

• Set up teetered and non-teetered values in the Accounts Receivable category of Fund Sub Category.

• Using Property Sale Settings:

• Set up the payment rules that calculate redemption penalty. These payment rules identify the charge type for redemption penalty. Options for this setting come from Accounts Receivable Payment Rules setup (Tax > Accounts Receivable > Setup > Payment Terms Rule Setup). Verify at least one Accounts Receivable Payment Rule for Redemption Penalty has been setup.

• Define the property sale redemption fee by adding it to the fee grid and selecting Property Sale Redemption as the Attached To value the Delinquent Fee Application. Use the option of Oldest Year on Pin. This fee should be calculated on the oldest taxbill of the PIN.

• Set up the fees are to be calculated by the tax sale module. These are fees set up with Attached To the Tax Sale Item.

• A delinquent group with a tax sale must exist. During the processing of final advertising for the tax sale, the number of offerings is recorded. This data is required for the report.

• This report is expected to be run before the sale takes place. It is used for estimating the teeter loss.