Installment Contracts

 

What is an installment contract?

  • If a taxpayer in foreclosure enters into an installment contract, they agree to make a down payment and then additional monthly installments until the amount in Judgment is paid off. 
  • Contracts are offered for real property accounts only. There is no installment contract option for personal property delinquencies.
  • Interest and penalties continue to accrue during the duration of the installment contract.

 

Taxpayers may qualify for an installment contract IF

  • Their real property taxes are delinquent and the County has filed a Petition against the property.
  • They have not defaulted on a County installment contract in the past two years. 

 

 

 

Installment Contracts

  • Jackson County Collection offers installment contracts to qualifying taxpayers set for the tax sale. 
  • These installment contracts require a down payment of either 30% or 10% depending on the type of property, and payment of eleven monthly installment payments beginning the month after the initiation of the contract.
  • Interest penalties and fees continue to accrue.

 

 

 

 

Defaults

  • If a taxpayer misses any payments from January-May, they will be added into the Sale in August. 

 

 

 

How to Apply