What is a Tax Roll?

Sometimes tax roll is referred to as an assessment roll, the tax roll is a list of all property that is subject to taxes. For cities, townships, counties and parishes Tax rolls are a common instrument of use.

Every taxable property that is physically located within the jurisdiction will be identified by the roll. By this it becomes possible to maintain accurate records for the purpose of assessing property taxes for the upcoming fiscal year.

What are the details that a tax roll may contain?

From one jurisdiction to another there is a little variation in the detail that is included in a tax roll. The tax roll will maintain a list that contain the owner of record for each property on the list, along with the physical address of the property.

It will also contain a legal description of the property; often this detail is similar to that listed on the deed that is registered for the property in question. It will also have an assessment of the current taxable value of the property.

Tax roll also include a tax roll number

An assessment or tax roll number for each property listed on the document are also included in most examples of a tax roll. The roll number is more or less for the internal use of the jurisdiction, and that number can be used as a quick means of pulling up all relevant data on a given piece of property. From one tax period to the next, roll numbers tend to remain the same, and they may be configured with numbers only, or they might be an alphanumeric combination if this approach works best for the jurisdiction.

Updating of the tax roll

In many cases, there must be updating of the tax roll for an upcoming tax period by a certain time of year, usually this time is a month or two before the actual beginning of the new fiscal year. For instance, if the fiscal year happens to coincide with the calendar year, then it might be required by the jurisdiction to complete the latest version of the tax roll, including the revision of any value assessments, by October 1. This gives a window to notify property owners about any changes in value assessments before that the new fiscal year starts and property taxes become due.

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Tagged as: assessment or tax roll number, Business_Finance, Finance, fiscal year, International taxation, property owners, Property tax, property taxes, Real property law, tax, tax roll, Tax system in the People's Republic of China, taxable property, Taxation in the United States, upcoming tax period, value assessments