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IPTI Research Paper – “Property Tax Management – the Importance of Property Tax Software”

IPTI is pleased to announce the publication of its research paper entitled “Property Tax Management – the Importance of Property Tax Software”.

The research was commissioned by Rethink Solutions Inc. (RSI) and looked at the key elements of property tax management from the perspective of corporate property taxpayers which are responsible for payment of property tax in respect of multiple properties, often across many jurisdictions.

IPTI’s independent research concluded that the key elements of an effective property tax management program involve:

  • Accurate, up to date, comprehensive data relating to the properties in respect of which the corporation has a responsibility for payment of property tax;
  • The ability to analyze data to produce reliable reports for budgeting, forecasting, accruals, appeals, etc;
  • Preparing reports for different levels of management who may have differing needs for information at different times;
  • Benchmarking to ensure that the amount of property tax being paid in respect of a particular property is in line with other similar properties;
  • A proactive property tax management strategy in place to identify opportunities for reducing property tax liabilities where appropriate;
  • Technology that supports all the foregoing requirements, in a cost-effective manner, with improved efficiency.

IPTI report found that corporations which used RSI’s product – itamlink – found it really useful in meeting their requirements, particularly in relation to paying the right amount of tax at the right time.