tax
A tax levied by an authority, for a period, with the payment against it and whether it is escrowed.
Taxes are fees levied by federal, state, and local governments on income, goods and services, and property, among other things.
Why it matters
A tax record names the authority, the account held with it, the period it covers, the service provider that sourced it, and the payment made against it, plus an indicator for whether it is escrowed.
The period is what makes the record a history rather than a balance. A parcel carries a new assessment each cycle and can owe several authorities at once, so the class is deliberately one levy for one period rather than a current-tax field on the property.
In practice
The escrow indicator is the field a servicing calculation reads first: an escrowed tax is collected monthly and paid by the servicer, and an unescrowed one is the borrower's to pay directly.
Properties
| Property | Type | Definition |
|---|---|---|
authority_account_identifier | string | Authority account identifier is a tax identifier issued to individuals and organizations to track tax obligations and payments they make to a tax authority. |
authority_name | string | Authority name refers to the name of an organization authorized to collect taxes from individuals and other organizations. |
description | decimal | A company description is a brief summary or overview of a business. It typically includes information such as the company's industry, size, products or services offered, target market, and mission statement. |
escrowed_indicator | boolean | The escrowed indicator specifies whether a mortgage servicer takes a portion of the borrower's monthly mortgage payment and holds it in an escrow account until tax payments are due. |
period_end_date | date | Period end date is the last day in a time period during which tax liability is accruing. |
period_start_date | date | Period start date is the first day in a time period during which tax liability is accruing. |
service_provider_identifier | string | A service provider identifier is a unique identifier issued to a company or individual who offers professional tax-related services to individuals, businesses, and other organizations. |
service_provider_name | string | Service provider name is the name of a company or individual who offers professional tax-related services to individuals, businesses, and other organizations. |
Relationships
| Property | Points at | Definition |
|---|---|---|
has_payment | payment | A payment refers to the transfer of money, goods, or services from one party (the payer) to another party (the payee) in exchange for a product, service, or debt settlement. Payments can take various forms, including cash, checks, bank transfers, credit cards, electronic funds transfers, mobile payments, and digital currencies. |