Taxpayers who have an Over 65, disabled or veteran homestead exemption may pay current taxes on their qualified homestead in four installments. You must pay one-fourth of your taxes and sign an agreement by January 31 in order to avoid penalty and interest. If the first one-fourth payment and signed agreement is received by February 28 then 7% penalty and interest applies.
The remaining payments are due by March 31, May 31 and July 31 without penalty and interest. If you miss an installment payment then you will have penalty (6%) and interest (1% each month delinquent) added to the installment amount.