Quarterly Tax Payments
Fiscal Year 2018 (July 1, 2017 to June 30, 2018)
How Quarterly Payments Work
Under the quarterly payment system, you will be sent a preliminary tax bill each year on or about July 1st. Your preliminary tax will be based on the adjusted net tax owed (including any betterments, special assessments and other charges added to the tax) on your property for the prior fiscal year and as a general rule will be no more than half (50%) of that amount. Your preliminary tax will be payable in two equal installments. Your first payment will be due on August 3rd and your second payment will be due on November 2nd.
Your actual tax bill will than be sent to you on December 31st. This bill will show the assessed valuation of your property, the tax rate and the amount of property taxes you owe for the fiscal year, including any other special charges that are added to the tax. The tax bill will also show the amount of the preliminary tax billed in early summer as a credit against your actual tax for the year.
The balance of your tax remaining after credit for the preliminary tax will also be payable in two equal installments. Your first payment will be due on February 1, 2018 and your second payment will be due on May 1, 2018.
Example
If your actual Fiscal Year 2018 tax bill is $1,700 and you had previously been billed $800 in preliminary taxes for the year, you would have a remaining balance of $900. This $900 balance would be payable in two installments of $450 each. The first $450 payment would be due on February 1, 2018 and the second would be due on May 1, 2018. Once the actual tax bills are mailed, you will be able to file an abatement application with the assessors if you wish to contest your assessment. Applications for abatement may be filed between January 1, 2018 and February 1, 2018 if the actual bills are mailed on or before December 31, 2017.