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Book Index

Recalculating and Verifying Values

Purpose

Use this procedure to verify the values resulting from the additions and/or changes you have made.

Using the Recalculate option sums the value of the UDI parent property's land and improvements, and distributes that value to each of the subordinate child properties based on the ownership percentage set for each child property.

Procedure

  1. In the parent or stand-alone record, click Recalculate.
  2. Click the Owner-Agent tab. Then click Values.

    The Owner Values window is displayed.

  3. Use the following checklist to verify that the values are correct.

Item

Verify

1

To verify that you have changed the ownership percentages correctly, make sure the calculated values are what you expected and that the sum of the child properties adds up to the parent property value.

 

2

Verify values for land and improvement details.

 

3

Verify that supplement codes and reasons are correct.

 

4

Verify the last appraisal year; each child and parent should have been last appraised in the same calendar year.

 

5

Verify the previous reappraisal year; it should be the same for each child and parent. (This dictates the increase in value for the homestead cap.)

 

6

Verify that the value for the homestead cap is correct.

 

7

Verify that the ag value has been applied properly.

 

8

Check the Owner-Agent tab to make sure that all active child properties are listed.

 

9

Repeat for each child property.