PASBO 51 st Annual Conference “Slow Pay”: Is it Better Than “No Pay”? Panel Discussion Thursday, March 9, :15 – 3:15 pm, Cocoa 4-5 Presenter: Ms. Bernadine C. Rishcoff Business Administrator/Board Secty. Nazareth Area School District

Real Estate Tax Installment Payments Payment option has been in place in Nazareth for over 27 years Approximately 50% pay by the installment plan All tax bills are eligible for installment payment

Real Estate Tax Installment Payments Tax bills are dated July 10 First payment must be made on or before September 10, which is the same date that the discount period ends The taxpayer cannot pay by installment if this date is missed There are no exceptions The installment amount is the base tax / 4

Real Estate Tax Installment Payments Following installment payments are due: November 10, January 10, and March 10 Dates are adjusted for holidays and weekends If either the second, third, or fourth installment payment is late, a 10% penalty is added to that installment

Real Estate Tax Installment Payments The tax bill has one part with the amounts for discount, base, and penalty, and the remaining parts are four installment coupons Separate installment notices are not mailed for subsequent payments

Real Estate Tax Installment Payments Regarding Act 169 of 1998, the tax collectors must reconcile their duplicates as of December 31 The School Board then approves for them to continue to collect the taxes until they are turned over to the County in April The tax collectors then do a final reconciliation

Real Estate Tax Installment Payments Concerns regarding new legislation: Presently the four bimonthly payments work in Nazareth. A different payment system, for example, of six bimonthly or twelve monthly payments would affect our cash flow, increase costs, and create additional bookkeeping