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Property Taxes Schedule

This template tests the client’s property tax revenue and receivable balances by performing an overall recalculation of the balances based on the assessed values and tax rates and comparing them to the client’s balances. The template allows for the tax activity to be allocated between two funds, such as the general fund and the debt service fund.
Generally, all of the necessary information, such as assessed values, tax rates, and collections, is entered on the Input worksheet. The receivables, revenue, and deferred revenue amounts should be entered according to their true signs: debit/ (credit). Collections should be entered as positive amounts. If the beginning of year balance sheet balances are not rolled forward from the previous year, these amounts will need to be entered on the property tax worksheet.