(A) Each taxpayer owning a parcel of taxable real property within York County is hereby granted the option to pay property taxes in installments as provided herein; provided that current taxes for the qualifying real property are paid in full by the installment payment application deadline of January 15. An installment election is not allowed for taxes paid through an escrow account.
(B) A taxpayer electing to pay ad valorem taxes in installments or electing to opt out of paying in installments must notify the county treasurer in writing no later than January 15 of the tax year for which the installment payments are applicable, and no earlier than December 1 of the preceding tax year. If the York County Treasurer does not receive written notification from a taxpayer between December 1 of a current tax year and before January 15 of the tax year for which installment payments are applicable, the taxpayer must pay ad valorem taxes in the same manner as the previous taxable year.
(C) The York County Treasurer shall notify the York County Auditor and the York County Tax Assessor of each taxpayer electing the installment payment option provided herein or electing to opt out of paying ad valorem taxes in installments. If the York County Tax Assessor determines that the property of a taxpayer electing the installment payment option of taxes has diminished in value, an estimated property tax obligation must be adjusted to reflect the reduced value. Upon being notified of an adjustment for reduced value from the assessor, the County Treasurer must notify the property owner of the adjusted estimated property tax obligation.
(D) (1) An installment payment is based on the total property tax for the previous property tax year, after applying all applicable credits and adjustments reflecting reduced value as determined by the County Tax Assessor. An amount equal to 16.667% of the estimated property tax obligation must be paid to the County Treasurer in each of five installments according to the following schedule: in the case of the following estimates, the due date is on or before:
(a) First February 15
(b) Second April 15
(c) Third June 15
(d) Fourth August 15
(e) Fifth October 15
(2) The remaining balance is due on or before January 15 of the following tax year in accordance with S.C. Code § 12-45-70. The County Treasurer shall notify the County Auditor of the amount of a property owner's payments received no earlier than October 15 and no later than November 15. A notice of the remaining tax due and other authorized charges and information must then be prepared and mailed to the property owner.
(E) If a taxpayer electing to pay in installments does not timely make each payment pursuant to the schedule contained in division (D) above, the county may refuse to accept all other installment payments. If the county refuses to accept other installment payments, the remaining balance is due in accordance with the provisions of S.C. Code § 12-45-70.
(F) Estimated property taxes paid in installments during a property tax year are a credit against the total property tax due on the real property for the property tax year. The estimated property taxes paid in installments during a property tax year must be deposited by the County Treasurer in an interest bearing account. The interest is to be retained by the County Treasurer to offset the administrative expenses of installment payments. Once final payment is made, and no later than January 15 of the following taxable year, installment payments actually paid must be credited to the accounts of the property taxing entities in the county in the same proportion that millage was imposed by such entities in the previous tax year with the necessary adjustments made to reflect current tax year millage impositions when property taxes for the current year are paid.
(G) If the credit allowed for estimated property tax paid during the property tax year results in an overpayment of property tax, the overpayment must be refunded to the taxpayer together with the actual interest earned by the County Treasurer, running from the later of the due date of the installments resulting in the overpayment, without regard to additional amounts paid, or the actual date the overpayment was received by the County Treasurer, to the date the refund is issued; provided, however, that if the overpayment is issued to the taxpayer within 45 days of the installment payment that resulted in the overpayment, the County Treasurer may retain the interest earned to offset administrative costs.
(H) Every tax notice for real property, for which the installment payment option has been elected, must contain a calculation of any estimated property tax due and a payment schedule and return envelopes for these payments.
(I) The payment of estimated property tax as provided in this section and the credit allowed arising from these payments in no way alters the due date, penalty schedule, and enforced collection of property taxes as provided by law.
(J) The York County Treasurer is authorized and empowered to promulgate and implement rules, processes and procedures for the administration of this section.
(Ord. 6009, passed 12-21-2009)