Milton property taxes are due on May 15. Normally, the Town sees a delinquency rate of under six percent, but this year, officials predict about a quarter of residents may be late filing taxes due to the novel coronavirus (COVID-19) outbreak.
Town Manager Don Turner explained during a remote selectboard meeting on March 30 that he has been in talks with Town Finance Director Jessica Morris and Town Treasurer John Gifford about the potential financial impacts of COVID-19 to the Town of Milton. They estimated a 25 percent delinquency rate.
"I'm sure it's on the high side but we'd rather be conservative if we need to borrow money," explained Turner.
Milton tax bills are paid in three installments: September 15, February 15 and May 15. The first two installment due dates are not mandatory, however, the full bill must be paid by May 15.
According to the Town Charter, the penalty for filing taxes later than May 15 is eight percent interest. An additional one percent interest is charged each month thereafter.
"Historically we've collected about 70 percent of taxes due leading up to May 15," Turner said. He isn't aware of any authority in the charter for the selectboard or town manager to waive the penalty or push the deadline.
"We should do everything we can to help people in these tough times," he said.
In terms of impacts to cash flow, Turner told the selectboard the Town may need to borrow between $300,000 to $500,000. "This is not tomorrow, but we are looking at that in anticipation of taxes not being as they have historically been," Turner told the board.
Property taxes are due May 15 to the Town Clerk's Office. Payments can be made online using credit cards, debit cards and eCheck. Checks should be made payable to "Town of Milton." The Town offices are closed but the Clerk's Office is available at 802-893-4111 or by email.