A tax roll is a list of all taxable properties within a jurisdiction, used for accurate record-keeping and assessing property taxes. It includes the owner’s name, property address, legal description, and current taxable value, with an assessment or schedule number for internal use. Updating occurs before the new tax year begins to notify homeowners of any changes.
Sometimes referred to as an assessment roll, the tax roll is a list of all taxable property. Tax rolls are a commonly used tool for cities, municipalities, counties, and parishes. The roll will identify each taxable property that is physically located within the jurisdiction. This allows for accurate record keeping in order to assess property taxes for the upcoming tax year.
The detail that is included in a tax schedule may vary slightly from one jurisdiction to another. However, almost each one will contain some common pieces of information. The tax list will list the registered owner of each property on the list, along with the physical address of the property. There will also be a legal description of the property; often this detail is identical to that on the recorded deed for the property in question. There will also be an assessment of the current taxable value of the property.
Most tax schedule examples will also include an assessment or schedule number for each property listed on the document. The registration number is more or less for the internal use of the jurisdiction, and can be used as a quick means of obtaining all the relevant data for a certain property. List numbers tend to stay the same from one tax period to the next, and can be set to just numbers, or be an alphanumeric combination if this approach works best for the jurisdiction.
In many cases, updating the tax list for an upcoming tax period must occur at a certain time of the year, usually a month or two before the actual start of the new tax year. For example, if the tax year coincides with the calendar year, the jurisdiction may be required to complete the latest version of the tax schedule, including review of any assessment of value, by October 1. This provides a window to notify homeowners of any changes in value assessments before the new tax year begins and property taxes are due.
Smart Assets.
Protect your devices with Threat Protection by NordVPN
