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DMA’s Benchmarking Team has authored a whitepaper on Property Tax best practices and performance metrics. The whitepaper is titled “An Executive Report and Summary of Findings”. It discusses the results of the organizations that have participated in DMA’s Property Tax Benchmark.
Several of the initial findings are:
- Personal property tax administration tends to consume a much greater percentage of staff time than real property but the tax liability associated with personal property taxes is generally significantly less than that of real property.
- Processing property tax bill payments is one of the most manual and time consuming tasks even though effective automation products are readily available.
- The companies most successful at minimizing real property taxes do so by dedicating their own internal resources to the effort while also using outside consultants more actively than other organizations.
The whitepaper is available for download HERE.
About Tax Process Benchmarking
DMA’s Tax Process Benchmarking is a free service used to identify and quantify improvement opportunities within tax departments at large complex organizations. The findings of a benchmark provide the factual and objective basis for creating a business case to drive the change necessary to prevent unnecessary spending on tax-related processes. The benchmarks provide insight and recommendations into the deployment of people, processes, technology, and the adoption of best practices.
To learn more about the Property Tax Benchmark and DMA’s services, contact Jonathan Kraft at (800) 309-2110 ext. 1231.
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