Property tax bills are due semi-annually (twice a year) or quarterly (four times a year), depending on the assessed or actual assessed value of the property.
If your property's assessed value goes over $250,000 you may receive a notice from DOF informing you that you will be billed semi-annually instead of quarterly.
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More than $250,000 | January 1 July 1 |
Less than $250,000 | January 1 April 1 July 1 October 1 |
Due Date on Weekend or Holiday
If the payment due date or grace period due date (for quarterly payers) falls on a weekend or a federal holiday, the payment is due the next business day.
Grace Period
If you pay quarterly, you get a 15-day, interest-free grace period. You won’t be charged interest for payments postmarked as late as July 15, October 15, January 15, or April 15.
If the date falls on a weekend or City holiday, it’s due by the following business day.
Early Payments
If you pay before the due date, you’ll get a discount. For quarterly payers, the earlier you pay, the bigger your discount.
If you pay by:
- July 15: 0.5% discount for paying the full amount due
- October 15: 0.25% discount for paying the remaining balance
- January 15: 0.125% discount for paying the remaining balance
If you pay semi-annually and pay the entire amount owed for the tax year by July 1, you’ll get a 0.5% discount.
Late Payments
A payment is considered late if it isn’t paid or if a mailed payment isn’t postmarked by the due date or grace period due date (quarterly payers only). The Department of Finance is required by law to charge interest on the outstanding amount of property tax until it’s paid, even if you didn’t get a bill.
The interest rates charged for late payments are set annually by the City Council. Interest is charged starting from the due date and compounds daily, so the later you make the payment, the more interest you’ll owe.
Interest Rates
July 1, 2023 through June 30, 2024:
- Property with an assessed value of $250,000 or less: 5%
- Property with an assessed value between $250,000 and $450,000: 8%
- Property with an assessed value over $450,000: 15%
July 1, 2024 through June 30, 2025:
- Property with an assessed value of $250,000 or less: 6%
- Property with an assessed value between $250,000 and $450,000: 9%
- Property with an assessed value over $450,000: 16%