It’s that time of year when Collier County property owners start receiving their property tax bills in the mail. Pay your taxes before the end of November, 2014, and you will receive a 4% discount. Below is a list of the most frequently asked questions.
When is your property tax due?
Property taxes are due November 1st and become delinquent April 15, 2015.
Is there a discount for early payment?
Yes, there is a discount for early payment of the tax bill that many property owners choose to take advantage of. If paid in November, a 4% discount is applied toward the bill. In December the discount drops to 3%, January 2%, February 1%, and if not paid by April the property tax becomes delinquent and a 3% penalty is added. So, it pays to submit your payment as soon as possible.
What is the Millage Rate?
The Collier County Tax Collector’s website states that the Millage Rate is calculated by dividing the approved taxing district’s budget for the tax year by the taxable value and is expressed as a rate per $1,000 of the taxable value. For example, if the millage rate is 9.00 (.009 x $1000) a taxable amount of $10,000 would equal $90.
How the Value is determined?
The Collier County Property Appraiser determines the assessed value of the property by taking into consideration factors such as location, use of property, and the fair market value.
What is a Property Tax Deferral?
Property owners may qualify for Homestead Exemption, which will allow a portion of property taxes or non-as valorem assessments to be deferred based on the property owner’s annual income.
Taxes can be deferred in their entirety for households with an income of less than $10,000 and applicants over 70 years of age with an annual income of less than $12,000.
For a chart of the Explanation of the Ad Valorem Tax & Non-AdValorem Assessment Notice, please see the attached link provided by the Collier County Tax Collector.
For more information on annual property tax bills visit the Collier County Tax Collector's website below or call (239) 252-8172.