When extracting coordinates X and Y with $X and $Y in the report form, the result is that the lower range X and Y values are in UOR's and not in master units.
Product: MicroStation JVersion: 05.07.01.14
Generating a tag report is based on positional units and not on the actual coordinates in the design file. You use the XYZTXT.MA that is delivered with MicroStation (05.07 and higher). This can be started from the Annotation tool box.