2022-05 Department of Finance Real Property Tax Division Revenue Cycle Management

Home

Regular, Delinquencies, and Post-Closing Timelines 1. On-Time Procedures On-time payers are assessed, billed, and monies are collected every six months according to schedule, as illustrated in Figure 2 above. The taxpayer receives an assessment notice and tax bills. 2. Past-Due Procedures Delinquent parcels receive tax bills and interim notices four (4) per year. When a parcel ages over two (2) years past due, the division will begin the foreclosure process. The following activity takes place 180 days before the tax sale • Jeopardy letters are mailed to every listed owner on record (Courtesy and not required by code) The following activities take place 120 days before the tax sale Preliminary tax letters are mailed certified to every owner on record except for those the division determines it will not act on (Preliminary letters are a courtesy to the taxpayer, cost $6 in postage, and are not required by code) • Bankruptcy parcels are removed • Bank foreclosure parcels are removed • Dropped parcels are removed • Civil action parcels are removed • Time and cost parcels are removed • Foreign parcels are removed • Unsold at prior auction are removed • Low-value parcels are removed • Government parcels are removed • Payment plan parcels are removed Older parcels are prioritized • Foreign properties do not receive a preliminary letter as international mailing is $16, dictated in some cases by international law, and the letter is a courtesy • The title company has a 45-day turnaround. The title company may decline to proceed based on: o Time -An inability to process the guarantee in the window allotted o Cost-A complex chain of ownership that would contribute to an exorbitant cost • RPT may remove accounts based on the following: o The upset price of taxes, penalties, fees, and interest multiplied by two (x2) exceeds the market value of the parcel 25 Page