You can participate in the quarterly installment plan for paying
real estate or tangible taxes if your tax bill is more than $100 and you
apply before May 1st.
Applications are not being accepted at this time. The 2014
Installment application will be made available in November when the 2014
tax roll is open for collection.
If you have an escrow account,
check with your mortgage company. Since your taxes are paid with
your monthly payments the mortgage company makes a single payment for
you rather than installment payments.
When do I receive my tax bills under the
Installment Plan and how are the amounts determined?
You will receive the first bill in June.
The June payment must be made or you will be dropped from
the installment plan. If you do not make your June installment
payment, you will receive a tax bill in November for the full year's
taxes with the usual discounts. The second bill is received by September, the
third by December and the final bill by March.
The June and September bills will be computed using
last year's tax amount. The December and March bills will reflect the
current
taxes. (The current tax roll will be certified to the Tax Collector in
October).
If any payment is not made during the month it is due,
you will lose your discount on the payment you missed.
Do I
receive more or less discount than if I paid the full amount in November?
If last year's and this year's taxes are approximately
the same, paying by installment will be about the same as paying the full
amount of taxes due in November (which gives a 4% discount). The
plan is designed for those who prefer to pay their taxes in smaller
amounts rather than one large amount.
What happens if I make an installment payment and
then sell my property?
If the property is sold after one or more installment
payments have been made, the new owner must continue on the plan.
The seller should make sure the realtor and closing agent know that some
of the taxes have been paid. This will help ensure that the taxes
will be correctly prorated at the closing.
Participants on the plan are automatically re-enrolled
and do not need to apply each year. If you should sell your
property, the installment plan stays with the property. If you
purchase new property, you need to apply for your new property.