Bill > HB663

This bill establishes a quarterly installment payment program for eligible taxpayers, defined as those with estimated real property taxes of $200 or more, allowing them to pay their property taxes in four equal payments throughout the year, starting January 1, 2029. The program will be administered by designated property tax collectors, such as sheriffs, and payments will be estimated based on the previous year's taxes, with adjustments made once the actual tax liability is determined and communicated to the taxpayer electronically or through notifications. While this program allows for penalty and interest-free installment payments, it disallows the standard 2% discount for early payment and permits an administrative fee of up to 3% to cover program costs. The bill also mandates that tax notices include specific information about installment payments for those participating in the program, and requires the Department of Revenue to create administrative regulations to ensure uniformity and accessibility of the program statewide, with penalties for noncompliance.

Budget and Finance

https://apps.legislature.ky.gov/record/26RS/hb663.html