Tax Compliance, Inc. Announces the Release PTMS 2.7
San Diego, California - November 1, 2010
Tax Compliance, Inc. (TCI) announces the release of PTMS 2.7, which includes an Appeals Manager for personal and real property tax appeals along with a new tax forecasting module. This release represents the next phase of TCI's migration of its market leading property tax software, PTMS, to the Microsoft .NET architecture.
The Appeals Manager in PTMS 2.7 allows users to track and manage every step of the appeal process. The Appeals Manager supports multi-year appeals as challenges to assessments for multiple reporting years can now be managed within the same appeal record. Appeal records can also be marked as open or closed, and filters within the Appeals Manager allow users to quickly display open appeals, closed appeals, or both.
PTMS 2.7 also more tightly integrates appeals into the rest of the system. For example, when displaying property values in other PTMS modules, such as the Property Manager, PTMS 2.7 clearly identifies those values that are currently under appeal. "The integration between different functional areas of the system is crucial, especially when it comes to tax forecasting and appeals" said Scott Strauss, CEO of TCI. He added, "This is just one of the benefits of TCI"s Tax ERP. Having one central database feeding various property tax automation modules creates a seamless use of data and in turn a completely integrated property tax department."
PTMS 2.7 also includes a new tax forecasting module which allows users to calculate an estimate of current and future taxes to assist in planning and budgeting. The forecasting module lets users create multiple forecasts for the same property using varying methods (value-based vs. tax-based forecasts) and adjustment factors. After determining which forecast most accurately projects the taxes for their property, users can store the results of that forecast as the estimated tax for their property, lock that estimated tax amount, and finalize the forecast. This process facilitates easy comparisons of estimated tax amounts to actual tax.
The forecasting module replaces the Legacy PTMS Tax Estimates features, and offers several improvements and expanded capabilities. Users can now create a single forecast for data across multiple PTMS Companies or Enterprises. In addition, users can also create forecasts at the account level (assessor account or parcel) or at the asset level. To ensure such segmented forecasts are useful, the details for multiple forecasts may be viewed on a single grid — so users are no longer limited to viewing each forecast separately or forced to use Excel to see the larger picture. Multiple forecasts may also be created for the same data set using different parameters to create and analyze "what if" scenarios.
"We had extensive conversations with our customers to ensure the new Forecasting module would provide them with real value" said Mike Mulinix, Director of Customer Relations. He added, "We removed a lot of barriers so our customers can see the big picture while still accounting for the nuances of each state and jurisdiction."