Each asset is reconciled to the tax bill in order to maintain the integrity of the process. To provide audit trail information, the rate, bill number, and due date are tracked in the system. This allows the system to correlate check number, payment date and payee to an individual asset. Who bills the lessee for the property tax is the choice of lessor. Some lessors build the tax cost into the lease contract and do not pursue reimbursement from the lessee.
Most lessors seek reimbursement of property tax in some manner.
CBIZ Property Tax Solutions can bill the lessee directly or provide an electronic billing file that allows the lessor to bill the lessee. In either case, CBIZ Property Tax Solutions can enhance cash flow by billing in a number of ways. The tax bill could be estimated based on filing information and billed months in advance, or billing can occur immediately after verifying the tax bill. The goal is to enhance cash flow and reduce the amount of time the lessor is waiting for reimbursement. After the property tax bill is verified CBIZ Property Tax Solutions will generate checks for payment.