Okaloosa County Tax Collector Ben Anderson encourages taxpayers to take advantage of the Tax Installment Plan available for property owners. Using the Tax Installment Plan, payments can be divided into four payments over a one year period rather than having to pay one lump sum. To participate in the Tax Installment Plan, taxpayers must complete an Installment Application. The application can be found in the “Form Center” on the Tax Collector’s website: www.OkaloosaTax.com. The application must be submitted no later than April 30.
Annual renewal is automatic as long as the June payment is made each year. The payments will apply to next year's taxes. Those who choose the installment method will pay based on an estimated tax equal to the actual taxes for the previous year. The payment schedule is:
• 1st Installment Due by June 30 - 1/4 the total estimated taxes discounted 6%.
• 2nd Installment Due by September 30 - 1/4 the total estimated taxes discounted 4.5%.
• 3rd Installment Due by December 31 - 1/4 the total estimated taxes plus 1/2 of any adjustment for actual tax liability discounted 3%.
• 4th Installment Due by March 31 - 1/4 the total estimated taxes plus the balance of any adjustment for actual tax liability.
Delinquent installment payments must be paid in full with the next installment. Any amount remaining unpaid on April 1 of the following year is treated as delinquent. Anderson says, “This installment program should ease the burden on taxpayers by allowing them to spread out their payments.” He continues, “It also rewards them because they can realize up to a 3.375% discount for making payments on time.”
Payments can be made online with E-check with no bank charge fees.
Re-application is not necessary if you participated in the Tax Installment Plan the previous year.