Exemption codes categorize different kinds of tax exemptions, which provide a full or partial immunity from the requirement of paying taxes. You can assign up to three exemptions to a Tax Account. The Exemption Code is associated with a description and type. When you select one of the predefined Exemption Codes, the description and type appear on the same line. You can maintain the list of Exemption Codes using the Real Estate Tables function in the Assessing Module.
Where-Used: Usually, the Assessing module assigns the Exemption Codes to a Tax Account. However, during Tax Master Maintenance, you can also maintain the exemptions at the Exemptions Tab. The Exemption Code appears on the Tax Master Maintenance Print Report.
Format: 2.0 numeric, predefined
See also: Exemption Amount, Exemption Description, Exemption Type, Exemptions Total for Property, and Exemptions Total for Credit.