We have a layer that contains land parcel information such as area for each parcel, and a unique parcel ID. We also have multiple polygons that cover some parcels. We're trying to figure out how to determine which parcels are covered by the polygon and which parcels are not covered by the polygon. We really have no idea how to proceed so any help is appreciated.
Couldn't you just do a Select by Location and for the target layer use the parcels and for the source layer use the polygon layer and for the selection method use either- are within or are completely within the source layer feature?
Then you can use the switch selection in the attribute table to see which ones are not within the source layer.
Look at the analysis toolbox in the geoprocessing tools. There are many ways of doing what you want. A basic union is probably the easiest as any attributes from the polygon will be added to parcels it overlays.