The law allows taxpayers to pay their real estate taxes on an installment plan if they so choose and if their estimated tax due is more than $100.00. Estimated taxes are based on the previous year’s gross tax amount. Use State Department of Revenue Form DR-534 to file for installment payments. Mail the completed form to Lisa Cullen, Tax Collector, P.O. Box 2500, Titusville, FL 32781-2500.
In order to participate in this plan, an application must be received by the Tax Collector’s Office prior to May 1st of the tax year. From year to year reapplication is not required provided the first installment payment is made no later than June 30th of that tax year.
If you have not received your first notice by June 15th, please contact the Brevard County Tax Collector’s office at (321) 264-6969. The June and September quarterly installments are based upon the prior year’s gross tax, and any adjustments (new value, changes to exemptions) are made in the December and March quarterly installments after the current year tax roll is certified to the Tax Collector’s office. Any amount remaining unpaid on April 1st is subject to all the provisions of law pertaining to delinquent real estate taxes.
It should also be noted that if a property owner has an escrow account with a mortgage company, they should NOT be paying by installments, as mortgage companies are obligated to pay taxes in November to obtain the maximum discount for their accounts.