For real estate developers, timely and accurate property tax data is essential to keeping up with ever-changing parcel lists. That’s why one of the largest commercial developers in the U.S. partnered with PTX in 2020 to automate a portion of their property tax process with TaxFeed.
status quo was inefficient
Before working with PTX, the company’s property tax team relied on consultants and internal staff to help gather data. Because their parcel list changes frequently, it is important for them to have accurate data in OneSource, their property tax system, for value analysis and reporting. To learn why they chose PTX and to see how things are going so far, we interviewed their director of ad valorem tax:
“The data from consultants wasn’t always timely, and often incomplete. It was an inefficient use of time to double check their work. When I heard about PTX from a colleague, I was eager to try a new approach.”
easy implementation of new system
After implementing TaxFeed in Spring 2020, the property tax team was impressed with how easy the process was. Over the course of the implementation period, the real estate developer and PTX held conference calls weekly to discuss goals and keep everyone on track.
“We really appreciated the organized nature of the implementation process and the follow up from PTX. We had regular calls with PTX, agendas were outlined, and their team sent emails after every call to recap the next steps.”
During implementation, PTX worked with the property tax team to review their current tax process, clarify their data, and identify improvements that could be made with TaxFeed. Moving forward, they will be able to rely on TaxFeed to maintain their parcel list and to support property tax reconciliations at year end.
“We have a monthly process for identifying sold properties throughout the year. PTX suggested a tracking report they can provide to improve our year end reconciliation process."
With TaxFeed set up and ready to go, this new client is looking forward to receiving values digitally, especially in Texas where they have a significant number of their tax accounts.
“In Texas, we receive a lot of information in a short period of time, so we’re excited to see how it’s presented in a digital format and how PTX can follow up on missing items.”
LEARN MORE ABOUT TAXFEED
With more than 35 years of experience in property tax, we understand the data challenges you face. So, we developed TaxFeed to automate part of the property tax process and deliver timely, accurate values.