Positionally Accurate Tax Jurisdiction Data reduces labor-intensive, error-prone manual processes
Managing tax compliance for assets is a cumbersome yet vital responsibility for accounting and tax departments. Additionally, companies that deal with leased or mobile assets face additional challenges to ensure a timely and accurate tax jurisdiction determination. The ever-changing landscape of tax rules and municipal boundary changes becomes more problematic for companies that have assets in Texas, Wisconsin, Indiana and Michigan due to complex boundaries such as townships. Our research shows that on average, 25 percent of municipal boundaries change each year adding time-consuming research to a company’s accounting staff.
Using accurate tax jurisdiction information for business personal property is essential in order to reduce labor cost and minimize the number of misfiled returns. CoreLogic utilizes high-precision geocoding to determine the accurate tax jurisdiction of an inputted address based on parcel-level location intelligence. CoreLogic Business Personal Property Tax data provides a simple yet highly accurate tax jurisdiction look-up process that can link up with your existing property tax management solution, greatly reducing the number of misfiled returns.
Current, Positionally Accurate Tax Jurisdictions
CoreLogic Business Personal Property data incorporates up-to-date tax jurisdiction information with detailed boundary files for states, cities, counties, townships, villages, boroughs and school districts, covering 44 states and Washington, D.C. Additionally, CoreLogic collects and regularly maintains tax information to help companies comply with state and local regulations, and also municipal boundary changes. Information for business personal property tax is provided for the lowest-level taxing and remittance authority and distance to tax boundary. Because CoreLogic tax layers use parcel-based location intelligence to determine the tax jurisdiction, errors resulting from solutions that use only a ZIP code or ZIP+4 lookup do not occur.
Manage Your Business, Not Tax Boundaries
Tax jurisdiction information is only meaningful if it is up-to-date. Updated semi-annually, CoreLogic Business Personal Property Tax data incorporates the nation’s largest parcel dataset— ParcelPoint®— the most extensive parcel data available in the U.S — to provide the most positionally accurate business personal property tax jurisdiction data available.
With a staff dedicated to tracking ongoing changes, annexations, and de-annexations, CoreLogic Business Personal Property Tax data contains the most current boundary information available for all incorporated areas within the U.S. With our commitment to the accuracy and currency of our national parcel database, you can have confidence in the data you are using.
Meet Regulatory Compliance
Taxing authorities often audit large companies to determine their level of compliance in the proper payment of property taxes and geographic imprecision is often the main source of erroneous taxation. Developing a defendable tax audit process with parcel-level data provides companies greater insight into potential areas of concern before an official audit occurs.
Automated, Web-Based Tax Jurisdiction Assignments
Through custom correspondence files or by generating a FIPS code, our Business Personal Property Tax data is compatible with popular property tax management software. Our tax layers provide the correct tax jurisdiction information, geographic coordinates and the in-city or out-of-city indicator, enabling your current property tax management software to apply the correct tax rates and tax rules. Our solution, Xiance®, offers affordable and easy access to our comprehensive tax jurisdiction information, right at your fingertips.