Make changes to the real property details. This is a list of the fields that you'll find in Setup New Property and Modify Existing Properties.
Enter the property name, usually, this is the same as the property address. Depending on your organization's guidelines, it may include the county, block, lot, and parcel ID.
Enter the parcel ID. A parcel ID is the parcel number assigned to a piece of real property by the tax assessor.
Enter the property address.
The Lot and Block Survey System is a method for locating and identifying land. When a tract of land is split into smaller tracts, the smaller tracts are called blocks, each block contains lots that are assigned a number or letter.
Click on the box to type in a new value or select a value from a list of previous entries.
PIN (Personal Identification Number) is a password shared between a user and a system or application to verify a user's identity. The PIN allows an owner to enter property tax payments.
The latitude is the distance in degrees from north to south, while the longitude is the distance in degrees from the west to east. Enter the latitude and longitude to record a real property's location on a map.
These measurement types are commonly used when creating land records and determining a property's value. The measurement selected depends on how the land is assessed and valued.
Number of Units
Use Number of Units when land is valued based on a count of individual units rather than physical dimensions.
Examples:
By using Number of Units, you can value land based on the quantity of assessable units associated with the property.
Acreage
Use Acreage when land is measured and valued by the number of acres it contains.
Examples:
By using Acreage, you can calculate land values based on the total area of the property.
Linear Footage
Use Linear Footage when land is valued according to its length or frontage.
Examples:
By using Linear Footage, you can assess value based on the property's frontage or length along a specific feature.
Square Footage
Use Square Footage when land is measured and valued by its total square-foot area.
Examples:
By using Square Footage, you can calculate land values based on the total area occupied by the property.
The date when the real property was created. The current date is the default date. To use a different date, click on the Creation Date box and enter a new date.
An active real property allows you to select it and create transactions for it. To stop using a real property to create transactions, change the real property status to inactive by adding an inactive date to the real property record.
Use the list to select an option from a list of previously entered values or click on the box to enter a new value. Connect will add the new value to the list.
The serial number is stored for information only. Use the Serial Number box to enter the serial number that's assigned to the property.
Enter the taxing district that is assigned to the property by the state. A taxing district groups together the taxing entities that will apply a tax on a taxing district. To update the taxing district list, see How do I add a taxing district?
This is the last date when the real property record was reviewed.
Interest is the amount charged by the lender to the borrower for the use of funds. Select the Subject to Interest checkbox when the interest is billed on the property.
Penalty is the sum forfeited based on the specified conditions and terms. Select the Subject to Penalty checkbox when the property can be billed penalty.