Revising Tax Information on Buildings and Units

The system uses effective dates to control the tax information that you set up for buildings and, optionally, units. To revise the tax information, you enter a tax change date and revise the tax information. The system automatically generates a new tax record for the change and updates the Effective Date field with the value of the change date. The system also updates the Ending Date field on the original tax record to one day before the change date that you entered. Once you revise a tax record, you cannot select it. The system displays the record for audit purposes only. If you attempt to change the tax information without entering a change date, the system issues a warning that the audit trail of changes will be lost.