Just about any bill — from cable to rent — can be paid through an automatic monthly deduction from your bank account these days.
Now, Madison County Treasurer Kelly Gaskill wants to extend that kind convenient payment plan to county property owners through a partnership with Star Financial Bank.
The program would be open to anyone whose property taxes are not already collected monthly through mortgage payments, Gaskill told the Board of County Commissioners on Tuesday.
Star Financial Bank Senior Vice President Richard Beck said 1,000 property owners in Allen County have already signed up for an electronic payment the bank has helped set up there.
The advantage to the county is that automatic payments can help stabilize monthly cash flow. The benefit for property owners is that they can budget and pay their taxes every month instead of trying to set money aside to cover their biannual property tax payments.
“The philosophy here was to help customers who struggle to meet their payments,” Beck said.
Star Financial Bank has developed software to administer the program, and would charge the county a licensing fee of about $28,000 in the first two years. The bank would also charge the county 15 cents per transaction.
Gaskill said she was informing the commissioners about the program as a courtesy. The County Council is the county agency that can authorize the program.
...
