
Commercial and business property owners will have an additional option to pay delinquent property taxes after the Washington County Board of Commissioners approved a new policy Nov. 5 to comply with a change in state law.
Under state law, property owners who have fallen behind on paying their property taxes have the ability to enter into an agreement to pay the overdue taxes in equal installments over a five- or 10-year period to avoid the property going into tax forfeiture. This process is called entering into a confession of judgment.Â
Prior to state law changes during the 2013 legislative session, all residential property owners, and commercial property owners with a property value of less than $500,000, were eligible to enter into a confession of judgment. The 2013 state law change removed the value restriction on commercial and industrial property, broadening the eligibility to all businesses. The new law requires the county auditor to approve all confessions of judgment on commercial and industrial property.
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