Can Software Handle the Big Challenges in Property Tax Management?
According to a recent report by the International Property Tax Institute (IPTI), property tax managers identified the following as the primary challenges in property tax management for multi-property portfolios.
- Centralizing property tax-related data while verifying and maintaining up-to-date information;
- Processing payments and ensuring tax due dates and other deadlines are not missed
- Identifying and resolving errors and potential tax savings opportunities such as abatement schemes, exemptions and reliefs along with making appeals;
- Linking property tax data to a property and other internal and external systems;
- Sharing information across the corporation between departments and individuals;
- Analyzing the property tax data to provide accurate, timely reports for budgeting, forecasting, and regular management needs.
Solving for Challenges in Property Tax Management
Today’s technologies provide access to secure, web-based property tax solutions for managing large, multi-property portfolios. From centralizing data for easier access, to automating processes that can better gather data accurately and securely, property tax software delivers results that relieve the challenges of property tax management.
According to the IPTI report, property tax managers interviewed stated that the itamlink property tax software solved their challenges of property tax management by:
- Creating reliable processes for collecting, verifying, storing, retrieving, updating and analyzing their data;
- Building processes for payments, budgeting, forecasting, reporting and authorizing the filing of appeals;
- Allowing others to access the data set, when required, to provide greater transparency and understanding;
- Interrogating the data set and providing easy to understand reports to be shared with colleagues.
Contact us to learn more about how the itamlink property tax software delivers the best solution for the biggest challenges in property tax management!