Can Property Taxes be Paid in Installments?
In this blog post, we will address the question of whether property taxes can be paid in installments in New York and some other things you need to know.
Short Answer: It DependsThe short answer to the main query is, "It depends." Property tax rules and regulations vary by locality in New York. The option to split property tax payments into installments can be at the discretion of your specific county, city, or town. That being said, no state-wide arrangements exist for property tax installment payments. If you want to pay your property taxes in installments, see if your local government grants this flexibility.
If your locality allows property tax payment in installments, the specifics of the installment plan may vary. Property owners in some municipalities can settle their property tax payments in two or three combined payments per year, while others may allow them a monthly installment plan. But be mindful that installment programs typically require an additional fee or interest rate, so you must assess if it is worth paying the extra charge.
Before pursuing an installment plan, it would be wise to investigate if your municipality offers programs that reduce residents' property tax rates.