What Is it?
The Real Estate Escrow Program is prepaying your residential real estate taxes by making payments into a tax escrow fund so that the burden of the full tax bill does not hit you all a once.
The purpose of the program is to help make payment of taxes an easier burden for those of you who like to budget monthly, have trouble saving up for the larger payment, or are on a limited fixed income. The discipline of making the payments is up to you. We will tell you how to do it, and we will suggest amounts and dates for payments. The rest is your responsibility.
If you decide that you want to participate you must first sign an agreement which allows us to accept your payments. We will mail you coupons that you will use to make your payments. Each coupon has a recommended month in which to make your payment. You choose the time of the month which is most convenient for you. Twice yearly you will receive a bill. YOUR BILL WILL SHOW YOU HOW MUCH IS STILL OWED AND IS INTENDED TO BE ONE OF YOUR MONTHLY COUPON PAYMENTS. For example, for your real estate tax amount that is due in February, you will make payment in August, September, October, and November. In December you will receive a tax bill showing the amount still owed. The first half tax bill is to be used as your January payment coupon (even though it has a February due date). These five payments combined must equal the total amount due for your first half taxes. For your second half tax amount due in June, you will make payments in February, March, April, and May. In May you will receive a bill for the amount still owed. This second half tax bill is to be used as your June payment and will be due by June 20th.
These five payments combined must equal the total amount due in June for your second half tax amount.
Every time you make a payment send us a coupon with your check or money order. If you want a receipt returned to you, please send in both parts of the coupon along with a self-addressed, stamped envelope. We will return your coupon marked paid.
Regular payments for this program begin in August; however, we can adjust your payments to enable you to begin as late as November for the first half taxes which are due in February. Your coupon payments plus the amount showing due on the bill will equal your Real Estate Taxes.
ADDITIONAL INFORMATION YOU SHOULD KNOW: Your payments must equal the amount owed by the due date or you will receive a penalty on the unpaid balance. If you have paid more than the amount due on your half taxes, the balance will remain in the fund to be applied toward your next half tax.
No interest will be earned by you on your money. There will be no service charge for this program. This program is for future taxes only. Delinquent taxes may not be included in this program.
Refunds may be given in three instances: 1) If the property ownership changes by deed, 2) In case of your death the money may be refunded to the executor or administrator of your estate, and 3) If Homestead covers all or almost all of your taxes.
Since we do not know the exact amount of your new taxes, please remember that you are pre-paying estimated taxes. Unforeseen factors such as new tax levies, tax reduction factors, reappraisal, or unanticipated special assessments can all affect your taxes.
Please feel free to contact the Treasurer’s office at (740) 223-4030, Monday through Friday, 8:30am to 4:30pm if you have any questions.