HB18-1386: Property Tax Prepayments

• County treasurers are authorized to accept full or partial prepayments of assessed property taxes from taxpayers at the taxpayer's option.

• Prepayments must be made during the calendar year preceding the year in which taxes are due.

• Treasurer holds prepayments and credits them against the taxpayer's tax liability, with no interest accruing to the taxpayer.

• Prepaid funds are apportioned and distributed to taxing entities in January of the year the taxes become due, following standard tax distribution procedures.

• The bill applies retroactively to prepayments made before, on, or after the effective date of the act.