74.12 Multiple installments payment option.

467 words·~2 min read·/wi/chapter-74/74-12

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)Authority.

(a)The governing body of any taxation district, except a taxation district under s. 74.87 , may, by ordinance, authorize the payment of taxes on real property and improvements on leased land or special assessments or both those taxes and assessments in 3 or more installments. An ordinance enacted under this paragraph, or any repeal of, or amendment to, such an ordinance applies to the collections of a calendar year only if it is enacted on or before August 15 of the preceding calendar year.

(b)In any taxation district which has enacted an ordinance under par.

(a), all general property taxes, special assessments, special charges and special taxes shall be collected as provided in this section, rather than as provided in s. 74.11 and except as provided in s. 74.125 .

(2)Required provisions of ordinance. An ordinance enacted under sub.

(a)shall provide that:

(a)Any kind of obligation to which the installment option pertains may be paid in 3 or more installments. Each installment is due on the last day of the month designated.

(b)The first installment shall be paid on or before January 31 and at least 50 percent of the obligation to which the installment option pertains shall be paid on or before April 30.

(c)All obligations to which the installment option pertains shall be paid by July 31.

(d)Installments of special assessments are due on the same dates and in the same percentages as installments of real property taxes and if the total special assessment is less than $100, it shall be paid in full on or before January 31.

(3)Minimum payment, balance payable. An ordinance enacted under sub.

(a)may establish a minimum payment amount for installments and shall authorize a taxpayer to pay the remaining unpaid balance on any installment payment date.

(4)Payment dates under an ordinance. All obligations to which the installment option pertains shall be paid in one of the following ways:

(a)In full on or before January 31.

(b)In installments under the ordinance.

(5)Payment dates not under an ordinance. All special assessments to which an installment option does not pertain, special charges and special taxes that are placed in the tax roll shall be paid in full on or before January 31.

(6)Personal property taxes.

(a)All personal property taxes, except those on improvements on leased land, shall be paid in full and received by the proper official on or before 5 working days after the due date of January 31.

(b)For purposes of par.

(a), if January 31 is a Saturday or Sunday, the period of 5 working days under par.

(a)ends on the close of business on the first Friday in February.