Installment Payment Plan
The installment plan allows taxpayers to pay their real estate property taxes in four installments throughout the year. For many taxpayers, splitting their tax bill into four smaller payments is a helpful way to manage their household budget. Participants in the installment plan receive a 3.5% discount on their total tax bill.
Who can participate?
Property owners with an estimated tax bill of more than $100 are eligible. To participate, taxpayers must fill out an application and submit it to the Tax Collector’s office by April 30 of the current tax year. For example, to pay your 2014 taxes by installment, we must receive your application by April 30, 2014. Once you are enrolled and the first installment payment is made, you do not have to reapply every year, as long as the first installment payment is made every year.
When are the payments due?
1st Payment – June 30
One quarter of previous year’s gross tax discounted 6%.
2nd Payment – September 30
One quarter of previous year’s gross tax discounted 4.5%.
3rd Payment – December 31
One quarter of the current year’s adjusted tax amount discounted 3%.
4th Payment – March 31
One quarter of the current year’s adjusted tax amount, no discount.
- If the first payment in June is not made on time, the taxpayer has the option to make the first quarterly payment by July 31. However, in this case, the taxpayer loses the discount and must pay an extra 5% penalty.
- Taxpayers who do not make the first installment payment by July 31 will be returned to an annual payment status, and future participation will require reapplication.
- If the second or third payment is not made on time, the overdue amount is added to the next installment payment. However, missed installment payments result in the loss of the appropriate discount. Any amount remaining unpaid on April 1 is subject to all provisions of law pertaining to delinquent taxes.
- Taxpayers cannot participate in the installment plan after receiving their tax notice in November. For example, after receiving your 2013 tax notice, you cannot sign up for the installment plan for your 2013 taxes. To enroll for 2014, you must sign up by April 30, 2014, and then begin making installment payments in June.
- Once the first payment has been made, the taxpayer will continue to receive quarterly tax notices, which are due upon receipt.