Taxpayers may choose to pay their property taxes quarterly by participating in an installment payment plan. A taxpayer who chooses to pay taxes by the installment plan will make quarterly payments based on an estimated tax equal to the actual taxes levied on the property in the prior year. The prior year tax amount must be more than $100.00. Those who qualify must fill out and return an Installment Plan application form to the Tax Collector’s Office prior to May 1st (application forms are available at all county tax offices).
The plan requires that the first installment must be made no later than July 30th. Failure to make this first payment will automatically cancel the participant from the plan and the taxpayer will be required to pay the taxes due in full by March 31st.
Upon meeting the first installment deadline, the taxpayer is then obligated to participate in the program for the entire year. Payments not made by the installment period deadline are added to the next installment bill and results in the loss of discount.
Any amount remaining unpaid on April 1st is treated as a delinquent tax bill.
The following payment schedule applies to the installment plan:
- 1st Installment: 1/4 the total of estimate taxes discounted 6% if payment is made by June 30.
- Payments made in July do not receive a discount and are assessed a 5% penalty.
- 2nd installment: 1/4 the total estimated taxes discounted 4.5%.
- Payment due by September 30th.
- 3rd installment: 1/4 the total estimated taxes plus 1/2 of any adjustment made for actual tax liability, discounted 3%.
- Payment due by December 31st.
- 4th installment: 1/4 of the total estimated taxes plus the remaining 1/2 of any adjustment for actual tax liability. No discount applies.
- Payment due by March 31st.
Taxpayers participating in the Installment Payment Plan are automatically re-enrolled each year and do not have to fill out a new application.
Download the Installment Application HERE