The Personal Property module is one component within the Commissioner of Revenue (COR) Module. All COR modules interface seamlessly to the BAI Treasurer module and from there record financial reporting information into the BAI General Ledger module.
From the end-user perspective, the COR module requires one log on to view all current personal property detail records for all property types and multiple quick search methods into prior year detail records.
Tax rates are established for each personal property category type. The system complies with the following Virginia regulation valuing methods: value by gross weight, property type, property use, flat tax, depreciation schedules based upon acquired date and cost, rate per dollar value and others. The system provides interfaces with NADA and DMV.
The localities business practices are input into user managed options and can be altered as the localities business practices change. The system will allow the user to determine the how often the locality will bill, what the tax rates are, if the property type should be prorated, and if there should be late filing assessment.
The system meets the requirements of the Commonwealth of Virginia for processing tax exempt properties, elderly and disabled and is in full compliance with the calculations of PPTRA for qualifying vehicles.
The system allows for the management of leased property to be recorded with the lessor information.
The system contains a message center where users can record notes that should be available for users as they review the taxpayer account information.
Users can produce the tax book and all recap sheets associated with the book process both in edit and final copy for annual, semi-annual, and supplemental billings.
The system supports the processing of either vehicle license fees or decal applications depending upon the requirements of the locality.
DMV can be downloaded, weekly, monthly, annual, and on demand.
Users can elect to interface with NCOA to search and match taxpayers mailing address.
The entire abatement process, including a complete audit trail and all the required forms, and reports are available in all BAI COR modules.