By Duncan Hardy, Account Executive
NDS is pleased to announce several notable enhancements to the INVISION Assessing Personal Property module. Personal Property now offers full support for automated depreciation and property itemization, enabling municipalities to track taxation and exemptions better than ever. Additionally, a Personal Property Item Explorer has been added to give assessors the flexibility to view, extract and export asset information, as well as, produce customized reports. This tool provides improved visibility into what’s being taxed, exempt from taxation and the associated depreciation schedules for those items.
Personal Property Itemization
Users can now track each piece of personal property, assign a depreciation schedule and integrate customizable tax programs. Data entry is simple and incorporates a process similar to entering data into a spreadsheet. Users have flexibility to choose for each personal property account, whether to itemize or maintain summary valuations.
Personal Property Depreciation
NDS’ enhanced approach to depreciation allows for automatic depreciation value updating, reporting against previous years’ schedules and real-time depreciation calculations. New depreciation year schedules can be added at any time and all of the current assets will be updated to reflect the current schedules and any exemptions assigned to the assets.
Maintenance for tax programs has been added for individualized exemption control. This provides municipalities the opportunity to define their own tax programs and determine how depreciation and exemption amounts are handled. Profiles can be set up for state and federal tax programs like BETE, BETR and can evolve as our tax laws change. Exemption amounts can be a flat amount or based on a percentage of the taxable amount.
The new Item Explorer is a comprehensive search tool that gives municipalities a full view of their personal property items. The Item Explorer utilizes a grid infrastructure, which provides the flexibility for assessors to effectively track and analyze their personal property data. Extracting information is as simple as a click of the mouse.
Item Import & Export
The enhanced Personal Property module can do the data entry for you! NDS’ Item Import allows asset data contained in spreadsheets to be imported to personal property accounts in the Assessing module. Item lists for personal property accounts can be exported for owners to review and update. It’s fully configurable with spreadsheet column mapping to ensure data integrity.
To see the new Personal Property features in action, please contact Duncan Hardy at 1-800-649-7754 or email to email@example.com.