One issue we’ve experienced recently is not having the ability to change the tax amount on existing/future payments. For instance, the City of Phoenix recently changed their tax rate and we had to delete and recreate all of the payment schedules for all leases in Phoenix. It would be beneficial to be able to adjust the tax rate in the same way we adjust accounting cost codes. Is there a way to do this or is there another solution?
Our best practice is to setup a tax rate update that is driven from a common geography such as a city. When the tax rate changes for that city, the new rate and its effective date is entered and then workflow applies the new rate to the payments within that city. The solution has varied somewhat among TRIRIGA implementations, therefore it remains a configuration as part of the service team engagement.