In 2019, PTX partnered with one of the largest technology companies in the U.S. to help automate their property tax process. The company’s tax department had set goals to create efficiencies through automation, and PTX’s TaxFeed would help the property tax team be the first to do just that.
data entry presented challenges
Before partnering with PTX, the property tax team had already automated some of their responsibilities through PTMS, including the accrual process.
“We used to have values from hundreds of jurisdictions that we had to put into Excel and manually calculate for accruals—it was a nightmare,” said the property tax manager. “It could take up to a month, with one week completely dedicated to preparing an accrual.”
But after transitioning their accrual process from a labor-intensive Excel spreadsheet to PTMS’s accrual module, the team ran into a new problem: getting the values off paper invoices and into the tax software.
“With PTMS’s accrual module installed, we started trying to enter all the valuations and invoices manually, but that is an impossible task. We couldn’t keep up,” said the property tax manager. “So when I heard how TaxFeed could help, I convinced our team that it was worth the investment.”
taxfeed creates necessary efficiencies
In addition to alleviating the manual task of entering bills in PTMS, TaxFeed is helping the technology manufacturer receive their property tax invoices in a more timely manner by reducing their reliance on paper mail.
“The ability to get our property tax values from TaxFeed really stood out,” said the property tax manager. “25 to 30% of the time, we don’t get our invoices on time, but now, we can just download them from PTX.”
Using TaxFeed, the property tax team can download their values from an online portal. The data is available as soon as it’s released from assessors and collectors, so their team doesn’t have to worry about missing a deadline because of delays with paper mail (or not receiving the invoice at all because it was sent to the wrong address).
“TaxFeed is going to make our process more efficient. PTX’s technology fetches our data, compiles it all, and puts it into a format that I can download and upload directly to PTMS,” said the property tax manager.
learn more about taxfeed
TaxFeed is helping companies like this one create more efficient property tax processes by eliminating the burden of data entry. Whether you have a couple hundred parcels or tens of thousands, TaxFeed standardizes your property tax values across jurisdictions, and we customize the setup to make sure you are getting your data in the format that works best for your tax system.
To learn more about TaxFeed or talk to our solutions team about how TaxFeed could work for you, click the link below.