Business News

Gov. Holcomb Delays Property Tax Penalties

Covid-19 has been changing life for all of us in many ways, and here’s yet another to help alleviate the pain of the current economic downturn: delaying property taxes.

Part of Indiana Governor Eric Holcomb’s recent Executive Order #20-05 calls for property tax payments for the January 1, 2019 assessment date that are payable in 2020 to still be paid on or by May 11th, but waives the penalties on these payments made within 60 days, effectively making them due on or before July 10th, 2020 instead. 

There are some caveats though.  The Department of Local Government Finance has issued a memo with some further guidance on this.  For example, the order specifically states that it does not apply to financial institutions that escrow for taxes.  There’s also some worry that the delay in payments will cause cash flow issues for local government.

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