Palm Beach County Tax Collector Anne Gannon reminds property owners that the deadline to apply for the installment payment plan (IPP) is Friday, April 29.
The IPP is a tax tool for any property owner with estimated annual taxes over $100 to make four installments versus one lump sum payment. Last year, 627,044 property tax notices were mailed out and 28,441 were delinquent.
“I’m alarmed at the escalating cost for food, gas and other commodities.” says Gannon. “These higher prices have a big impact on working people, their families and our retired citizens on fixed incomes. I want to make sure people know that we have an installment payment plan for those who might like an option to the regular lump sum tax payment.”
Enrolling in the program is simple. Property owners need only complete an application and mail it to the Palm Beach County Tax Collector, Post Office Box 3715, West Palm Beach, FL 33402-3715 or drop it off at any of the Tax Collector Service Centers no later than close of business April 29. Applications are available at any tax collector’s office location or on the website at http://www.pbcgov.com/tax/services_property_installment.shtml.
Participation requires making the first payment by the June 30 deadline. IPP enrollees who fail to meet the June 1 installment payment deadline are automatically removed from the plan. IPP enrollees will only receive two notices: one for the June and September payments and one for the December and March payments. The payment schedule is:
1 – June 30, 2011, one-quarter of the total estimated taxes discounted by 6%
2 – September 30, 2011, one-quarter of the total estimated taxes discounted by 4.5%
3 – December 31, 2011, one-quarter of the total estimated taxes plus ½ of any adjustment for actual tax liability discounted 3 percent
4 — March 31, 2012, one-quarter of the total estimated taxes plus the balance of any adjustment for actual tax liability