Real Estate Tax Escrow Program
This program is a unique plan that eases the strain of the semi-annual tax payment by helping the taxpayer budget their current taxes into monthly payments.
Here's How The Escrow Program Can Work For You!!
- Your semi-annual real estate tax bill is PREPAID by being divided into equal monthly payments.
- Easy to use coupons are made available to help you make the monthly payments.
- No service charge for participation in program.
- An excellent way to budget your tax payments - no worry of being short of funds when the taxes are due in February and July!
Please contact our office and information will be forwarded to you for the purpose of enrolling in the Real Estate Tax Escrow Program.
Below is a sample contract that will need to be executed to initiate your participation in this program.
The taxpayer hereby requests the Union County Treasurer to accept partial payments toward the estimated half-year real property taxes and that these payments be placed in escrow until the current tax is due and payment can be applied to the current bill.
When making a payment, the taxpayer must indicate the amount of money to be credited to each individual parcel or payment will be returned to the taxpayer.
Taxpayer understands that when paying by mail the entire prepayment coupon must be sent along with a stamped, self-addressed envelope IF a receipt stamped "paid" is desired.
Taxpayer authorizes the Union County Treasurer to act as agent in receiving the tax bill. At least 20 days prior to the closing date of the collection, the taxpayer will receive notice of any deficiency in the escrow account, which is necessary to cover the current tax obligation.
At the end of collection, the taxpayer's half-year tax will be paid from the monies in the escrow account. If the balance in the taxpayer's escrow account does not equal the amount of the current half year tax bill, the County Treasurer will apply the monies in the escrow account toward the payment of the current half year tax, leaving the balance of tax still due. The taxpayer shall be aware that a penalty will be assessed against this balance.
Overpayments on the account will remain in escrow as credit toward the next collection, unless taxpayer makes application for return of excess taxes paid. Application of refund automatically terminates agreement.
Monies received as payment into the escrow fund will not be released other than for the payment of taxes, except for reasons pertaining transfer of ownership, death of taxpayer, or as required by law.
This program is in compliance with ORC 321.45.
DTE approval 2/21/01