If you desire to pay your Real Estate or Tangible Personal Property taxes by installment, you must file an application DR534 with the Tax Collector’s Office prior to May 1 of the tax year in which you wish to participate. In order to qualify, your prior year’s taxes must be more than $100. Once enrolled, you do not have to reapply each year. However; if the first installment is not paid the account is removed from the installment plan, and you must reapply by the following April 30 in order to participate in the installment plan for future years.
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 4½%
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 due in June is not made on time, the taxpayer has the option to make the first quarterly installment payment by July 31. However, the taxpayer loses the discount and must pay a 5% penalty.
Taxpayers who do not make the first quarterly installment payment by July 31 will be returned to the annual payment status.
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.