Installment Plan

Property taxes can be paid by the installment method if the prior year’s Real Estate or Tangible Tax bill is more than $100. To participate in the installment plan, taxpayers must submit an application DR 534 to the Tax Collector prior to May 1st of the tax year

If the first quarterly payment is not made, the account will be dropped from the installment plan and the taxpayer will receive the regular full year tax bill in November.

Annual renewal is automatic as long as the first (June) payment is made each year plus the year’s taxes are paid in full and no remaining balance goes unpaid. No new application is required. The property will remain on the plan until the taxpayer requests to be dropped from the plan or the first payment is not made by July 31st. (Payments accepted in July do not receive a discount and are required to pay a 5% penalty.)

The first 2 payments of the installment plan (June and September) are based on the prior year’s taxes. The last 2 payments (December and March) reflect any adjustments for the current year’s taxes.

1st Payment = ¼ of previous years gross taxes less 6% discount if paid by June 30th

2nd Payment = ¼ of previous years gross taxes less 4.5% discount if paid by September 30th

NOTE: In mid-October we receive the certified tax roll from the Property Appraiser. We deduct the gross amount of payments made and divide the remainder of net tax due by two.

3rd Payment = ¼ of total estimated taxes plus ½ of any adjustment made for actual tax liability less 3% discount if paid by December 31st.

4th Payment = ¼ of total estimated taxes plus ½ of any adjustment made for actual tax liability. No discount. Payment due by March 31st.

If a property is sold after one or more installment payments have been made, the new owner must continue on the plan for that tax year. New owner will probably receive a bill in June for next year (probably in their name now depending on date of purchase)..ignore bill and DO NOT PAY and they will receive a bill for full year in November.

Taxes paid by an escrow company are typically paid in November rather than by installment.