In August this year each homeowner must have received a notification of their tax bill, and now, in November, this bill finally arrived. But what exactly does it say? Does it have to be paid now? Check it out here.
When the notification of property taxes arrived earlier in August, you did not have to pay. That was the TRIM NOTICE, called Notice of Proposed Property Taxes, just notifying the homeowner, the amount that the assessment was for the year, confirming all the information that the city had in record, giving plenty of time to contest the city appraisal on the value of the property.
Now, as the actual bill arrives, it must be paid. The actual due day is March 31, 2016.
- If paid now, in November of 2015, there is a discount of 4% on the total taxes due.
- If paid in December 2015, there is a discount of 3% on the total taxes due.
- If paid in January 2016, there is a discount of 2% on the total taxes due.
- If paid in February 2016, there is a discount of 1% on the total taxes due.
The city provide a payment plan for those who cannot pay these taxes all at once, and for those who finance the property, the bank typically gathers a small amount throughout the year into an escrow account, so it can pay early taking advantage of the discount.
Taxes must be paid on every single property. Tax certificates are sold on real estate property with delinquent taxes, and after a while, an owner can lose his property if these tax certificates are not redeemed.
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