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Special Assessment Records – manage both maintenance and improvement districts.
Four Assessment Methods – create a district using any one of the following:
Proportional units such as area, taxable value, or frontage
Rate codes such as residential, commercial, etc.
Flat amount
Fixed rate per proportional unit
Receipting – take full or partial payments. Assessments can be receipted individually or through a batch entry document.
Prepayment Calculation – Easily calculate, in advance, principle payoffs. Option to take partial payments on balance of principle.
Penalty and Interest Assessments on Delinquent Taxes – System calculates based on date of payment. Percentage entered by user.
Interest calculations may be one of the following
Serial (Principal amount per payment equal over life of SID)
Amortized (Payment amount equal over life of SID)
Summary Finances (Principal and Interest payments are set up for SID and individual properties calculated from master schedule)
Parcel Finances (Principal and Interest payments are setup for individual parcels)
Recalculation of SID schedules due to variable interest rate – rebuilds remaining unbilled principle and interest amortization table based on new rate.
Form Letters – Provides merge data fields so you can use your word processor to create custom delinquent, assessment, or other types of notices.
Transfer information to/from counties using Black Mountain Software systems – This includes download of annual name/address updates and receipt information and upload of annual assessment information. May be customized for links to other software.
Payment History Query – information available onscreen by assessment.
Tax Query – showing property information, tax amount by due date, and status (paid, unpaid), assessment lines to be paid. Tax payments may be calculated by setting the payment (interest) date.
Search for Properties – Tax ID, Name, In Care of Name, Geo Code, Township/Range/Section or Subdivision.
Tax ID Number – Changeable.
Accounting Integration – System journalizes all receipt entries for posting to the BMS general ledger.
Capitalization of Interest – when bond payments are due in advance of assessments being billed, interest may be capitalized over the life of the SID.
Defer Property assessment billing – Individual properties may be marked to exclude them from billing.
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Local Government