Effective CRE Tax Management is all About Making the Connection

Commercial real estate (CRE) taxes have always been complicated, with properties that span multiple parcels, complex ownership structures, and fragmented local jurisdictions. Technology and automation are cutting through the complexities, but that doesn’t change the fact that each of the 22,000 agencies operate independently with different billing and payment timelines, payment procedures, and refund processes. Adding to the complexity is that the agencies, which can range from large, more technically advanced municipalities to smaller townships that may still use spreadsheets and paper records are frequently changing their systems as they adopt new technology.

Individual CRE owners and asset managers also have their own evolving protocols and procedures as they integrate automated solutions —especially AI. Meeting both sides where they are on the technology continuum requires strong connections, not only with data and technology, but also with good old-fashioned human relationships.

Helping tax collectors adopt automation

For years, increasingly sophisticated automation, technology solutions and data capabilities have been helping CRE owners and their tax servicers become more efficient and accurate in managing property taxes. In many cases, however, taxing authorities don’t have the financial resources or bandwidth to incorporate these more advanced tools. For the ones that do, adopting new technology can be time-consuming, cumbersome, and can cause potential disruptions in established processes and workflows.

Cotality is changing that equation. Our Collector Portal was designed specifically to help taxing agencies become more automated. Rather than sending tax data and payment requests via mail or email, agencies of all sizes and levels of technological expertise can use the free, centralized platform to:

• Manage their billing and payment requests.
• Update payment procedures and wiring instructions.
• Track payment status.
• Confirm payments and access ongoing historical activity.
• Maintain oversight on refund requests.

For commercial real estate owners and servicers, this integration is an integral piece that helps drive risk mitigation. By bridging the technological divide between manual local agencies and institutional portfolios, Cotality provides greater payment certainty. We reduce the gaps where lost checks, administrative delays, and costly delinquency penalties typically occur, even in jurisdictions that still run on paper ledgers.

When technology really matters

The Collector Portal enables automated data connections at thousands of agencies that otherwise would have to rely on more traditional data delivery methods. It saves enormous time and resources on a daily basis, particularly during the Q4 tax season push, but it really saves the day when unforeseen circumstances interrupt normal business operations.

Technology can’t replace the benefits of personalrelationships

While the Collector Portal enables powerful digital connections that increase efficiencies, improve accuracy and streamline workflows, there are still many times when human intervention is required. Whether to solve a unique tax problem or assist agencies that are still evolving in their use of automation, connecting with human tax collectors is essential.

Building on more than 30 years of experience, Cotality has established relationships with the people on the front lines of these agencies so that a phone call or email is, when needed, welcomed. And regardless if there is a need to communicate personally, the Cotality Agency Management Team makes a point to check in regularly for any updates or new information that may not have been communicated digitally.

Connecting owners to tax data that matters

Of course, connecting with tax collectors is only one half of the equation. The other is connecting with CRE owners and portfolio managers. Cotality’s Commercial Tax Portal provides a centralized, end-to-end tax management platform that:

• Automates tracking, reporting and paying property taxes.
• Provides near real-time refund status.
• Delivers data-informed calls to action.
• Streamlines workflows and user management.
• Improves risk management strategies across diverse portfolios.

Whether for CRE owners and portfolio managers or the thousands of tax collectors in jurisdictions across the country, the key to effective tax management is connections, both digital and human. Combining connected data and digital tools with mutually beneficial personal relationships helps bridge information gaps and ensure efficient, accurate tax payments for both sides of the tax equation.

To set aside time with a Cotality Commercial Tax Solutions representative who can walk through how our solutions can benefit you directly, complete the form that can be found here.