Tax Compliance, Inc. has announced the release of Property Tax Management System (PTMS) version 3.7. Enhancements include the calculating and tracking of consultant fees for appeals; a new Appeal History import; streamlined assignment of jurisdictions, assessors, and collectors to real property; new reports; and the ability to save and automatically apply assessor-specific tax return information.
PTMS v3.7 adds enhanced functionality and flexibility to the existing PTMS appeal tracking process. Users now have the ability to calculate and/or track consultant fees along with other expenses for property tax appeals. Consultant fees may be recorded as flat fee expenses or on a contingency basis. Contingency fees may be based on gross or net tax savings. PTMS automatically factors in consultant fees to calculate the overall savings for each appeal. An Appeal History import has also been added to allow new TCI clients to save and access their prior appeals data in PTMS.
Numerous real property enhancements have been added to PTMS v3.7 to ensure optimal automation for managing real property parcels. PTMS now uses jurisdiction-specific rules to automatically assign the appropriate taxing jurisdiction, assessor, and collector to each real property parcel. Enhanced real property reports have also been included.
Assessor level tax return information can be saved in PTMS v3.7 to significantly reduce data entry time for individual returns. While most of the information required on tax forms directly relates to each property, many returns also require jurisdiction-specific taxpayer identification and property location information and/or answers to questions not directly related to the property (such as a Retail Merchants Certification Number in Indiana, Michigan Corporation ID or LLC Number). PTMS v3.7 records the answers to such questions and subsequently applies them as needed to the proper return. The answers to return-specific questions can be updated as necessary and are automatically rolled forward from year to year.