(a) As provided in Section 321.45, the Fiscal Officer may enter into a written agreement with any taxpayer to accept prepayments of real estate taxes due on a parcel of real property or manufactured or mobile home listed in the name of the taxpayer on the tax duplicate and hold them in either an escrow fund or a separate depository account until the last date that an installment of current taxes may be paid without penalty, at which time the prepayments shall be applied toward the taxes due. The agreement may provide for the Fiscal Officer to invest the prepayments held in the escrow fund or depository account, in accordance with Chapter 135 of the Ohio Revised Code, and apply the investment earning as a discount against the total taxes due after deducting an amount sufficient to pay the expenses incurred by the Fiscal Officer in establishing and administering the prepayment collection program. The balance applied as a discount shall be calculated for each taxpayer’s prepayment in such a manner that the discount credited is commensurate with the amount of prepayment deposited in the escrow fund or depository account and the length of time the prepayments are held for each parcel enrolled in the program. Discounts accruing as a result of prepayments made for a tax half shall be applied against the total taxes due for the next billable collection cycle. No discount shall be provided to a taxpayer who fails to pay the total taxes due or fails to make prepayments pursuant to the terms of the agreement, except for parcels or manufactured or mobile homes with a remaining outstanding balance of $1.00. The prepayment agreement may be made in addition to a written agreement for the payment of delinquent taxes as provided in Section 323.31 of the Ohio Revised Code.
(b) If a discount is not provided, any earnings on the prepayments in an escrow fund or depository account shall be paid to the credit of a special interest account to be used by the Fiscal Officer only for the payment of the expenses incurred in establishing and administering the prepayment collection system.
(c) A separate written prepayment agreement is required for each parcel of property or manufactured or mobile home, except that a taxpayer who makes prepayments on more than one parcel or manufactured or mobile home may enter into a single agreement covering all of the parcels or manufactured or mobile homes. Each agreement between the Fiscal Officer and a taxpayer shall specify the manner in which each prepayment shall be applied to the parcels or manufactured or mobile homes and show the date and amount of each prepayment.
(Ord. 2002-660. Adopted 11-4-02.)