Fintech News

Esri Tech to Help Modernize Vermont Department of Taxes

Esri Partner Axiomatic Will Design Solutions to Promote Fair and Equitable Taxation

Esri, the global leader in location intelligence, today announced that partner company Axiomatic LLC has been chosen by the Vermont Department of Taxes to develop a new statewide platform for managing property tax administration, equalization, and oversight. The new system is expected to improve awareness and outcomes of property tax processes.

Read More: DataRooms.com Embeds the dtSearch Engine to Enable Instant Searching across Terabytes of Virtual Data Room Content

In Vermont, a small state with as many tax jurisdictions as Texas, it is essential to provide fair and equitable property taxation. Esri software will enable real-time visualization of property tax data for municipal officials, the Department of Taxes, policy makers, and the public.

“When state and local governments assess properties to determine how much they should be taxed, they have to also ensure that property values are equalized across each jurisdiction so that state resources, such as school funding, are fairly distributed,” said Brent Jones, global manager of land records and cadastre at Esri. “Vermont was already using a statewide parcel geographic information system (GIS) map for value assessment and analysis, and now it will be augmented with computer-assisted mass appraisal (CAMA) data from Vermont municipalities. This improved accuracy will be especially important in our post-COVID environment, where property values, and therefore local funding, are being disrupted.”

Axiomatic LLC is a New Hampshire-based company serving government, business, and nonprofit clients all over the world. Esri will assist Axiomatic by working with the Vermont Department of Taxes to collect real estate data from local tax assessors across the state to create one aggregated near real-time database. Axiomatic’s software will provide efficiencies, enabling the department to focus on the analysis of that data and verify fair property taxation.

Read More: Vitesse, a Fintech Providing Real-Time Cross-Border Payments for Businesses, Scores £6.6m Series A

“Axiomatic uses dashboards within ArcGIS Web AppBuilder to provide a bird’s-eye view of a particular municipality so the viewer can see at a glance the average property value, average sale value, actual market value and sale data, and more,” added Jones. “This allows users to identify which properties are over- or undervalued and visualize where the problems are. The new system will also improve data security and privacy.”

Axiomatic will also host Vermont’s statewide education property tax data in the Azure cloud, making this material accessible to the department through an online portal that can be shared across municipalities and accessed from any device with an internet connection. This is particularly important in the current remote work environment.

The project includes a public portal that gives property owners and the public access to real estate data, like assessed value, tax rates, and exemptions, ensuring greater transparency and efficient use of tax dollars.

Related posts

Microbusinesses at Risk: 1 in 4 Report not Receiving Payments or Waiting Over a Year to Be Paid, Wave Survey Finds

Fintech News Desk

Growth Opportunities Rise as APAC B2B Payments Market Prospers

Fintech News Desk

Pavo Insurance Solutions and Agile Premium Finance Join Forces to Revolutionize Premium Financing

PR Newswire
1