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Adding Interim and Full Property Taxes 

In Prolegis, property taxes are managed in two distinct areas depending on the billing cycle: Full Property Taxes (Final Bill): Managed natively through the dedicated Taxes tab. Interim Property Taxes: Added manually via a prorated adjustment within the Statement of Adjustments.

In Prolegis, property taxes are managed in two distinct areas depending on the billing cycle:

  • Full Property Taxes (Final Bill): Managed natively through the dedicated Taxes tab.
  • Interim Property Taxes: Added manually via a prorated adjustment within the Statement of Adjustments.

This article outlines how to input both tax types to ensure your closing financial statements balance correctly.

1. Entering Full Property Taxes

For standard, full-year, or final property tax bills, use the platform's native tax management feature:

  1. Navigate to the matter and open the Taxes tab from the side menu.
  2. Enter the annual municipal tax details, assessment values, and payment status as prompted.
  3. The system will automatically pull this data into your final calculations.
2. Entering Interim Property Taxes

Because interim tax bills only cover a portion of the year before the final municipal tax rate is set, they must be added to the file as a custom prorated calculation.

Step-by-Step Workflow:

  1. Navigate to the Statement of Adjustments screen within your matter.
  2. Click the + Adjustment button.
  3. Locate the Prorated toggle and click to switch it ON. (This tells Prolegis to calculate the daily tax rate automatically based on the closing date).
  4. Enter the specific Date Range applicable to the interim tax billing cycle.
  5. In the Amount field, input the total interim tax amount levied by the municipality.
  6. Enter the actual Amount Paid to date.
💡 Key Tip: Determining the Ledger "Type"

When finalizing the adjustment, you must assign the line item to the correct party based on who has overpaid or underpaid:

  • Type = Seller: Select this if the Seller has already paid more than their fair, proportional share of the interim taxes up to the closing date. This issues a credit to the Seller.
  • Type = Buyer: Select this if the Seller has underpaid their portion, meaning the Buyer will absorb an outstanding liability post-closing. This issues a credit to the Buyer.
Troubleshooting & Verification

After saving the interim adjustment, review the live preview of your Statement of Adjustments. Verify that the daily proration match your manual ledger math and that the credit has landed on the correct side of the ledger balance block.