HB 25-1199: Property Tax Payment Schedule

Official summary

Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.

Under current law, property taxes must be paid either in full on or before April 30 or in 2 equal installments, the first due on or before the last day of February and the second due on or before June 15. For property tax payments made for property tax years commencing on or after January 1, 2025, the bill creates a 4-installment-payment option for taxpayers that owe real property taxes in an amount greater than $25 on residential real property or real property that is listed by the assessor under any improved commercial subclass codes and that do not have such taxes paid out of an escrow account by a mortgage company (allowed taxpayers). Under the 4-installment-payment option, allowed taxpayers may pay their real property taxes owed on residential real property or real property that is listed by the assessor under any improved commercial subclass codes in 4 equal installments, the first due on or before the last day of February, the second due on or before April 30, the third due on or before July 15, and the fourth due on or before September 15. An allowed taxpayer must pay at least half of their real property taxes owed on or before April 30 to be permitted to make installment payments pursuant to the 4-installment-payment option in that year, however, an allowed taxpayer can pay in full the real property taxes owed at any time after April 30 and up to the day before the date of the sale of a tax lien on the allowed taxpayer's property, including delinquent interest, if any. County treasurers are required to provide information about the 4-installment-payment option with tax statements. An allowed taxpayer that does not pay the third installment of real property taxes owed on or before July 15 owes delinquent interest on the unpaid third installment at a rate of 1% per month that the installment is unpaid accruing from July 16, and if an allowed taxpayer does not pay the fourth installment of real property taxes owed on or before September 15, the allowed taxpayer owes delinquent interest on the unpaid fourth installment at a rate of 1% per month that the installment is unpaid accruing from September 16. Current law requires the county treasurer to provide notice to taxpayers that have unpaid property taxes that, if remaining unpaid, may be subject to a tax lien sale by no later than September 1. Under the bill, allowable taxpayers paying pursuant to the 4-installment-payment option have until September 15 to make their fourth installment payment of real property taxes. Accordingly, the bill extends the September 1 notice deadline to October 15. (Note: This summary applies to this bill as introduced.)

Sponsors

Sponsors by party (alphabetical): Democratic 1

“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.

Recent official actions

1. March 10, 2025House Committee on Finance Postpone Indefinitely
2. February 10, 2025Introduced In House - Assigned to Finance