Many of us dread paying our property taxes each year. It’s a big chunk of money and if you don’t save up for it, it can be a financial strain to pay for it all at once. Santa Fe country treasurer Pat Varela is offering property owners the option of making prepayments on their 2013 and subsequent year taxes. Making these monthly payments will help alleviate some of the strain of making one large payment.
Beginning on June 1, 2013, property owners can make payments spread over a ten month period. Here is an example of the monthly property tax process:
2012 property taxes were $1,500:
First monthly prepayment and each of the next nin payments are 10% of the $1,500, or $150.00 each.
First payment is due June 10, 2013 and on the tenth of each successive month. The property owner has paid 9 x 150.00 = $1,350
2013 property taxes are $1,585.00:
The tenth and final payment would be $1,585.00 – $1,350 = $235.00
There are some restrictions to this offer. It does not apply to 2012 property taxes. In addition, if your taxes are escrowed and included in the property owner’s monthly mortgage payment, you cannot take advantage of this offer.
Property owners must sign up for the program by May 15, 2013. If you’d like more information on this offer, contact the Treasurer’s Office at (505)986-6245 or visit their website at www.santafecounty.org.
A New Mexican Perspective
