Filing a VAB petition does not prevent a taxpayer from the requirement paying their property taxes on a timely basis to obtain an early payment discount, as well as to avoid the assessment of interest and penalties if the VAB petition is denied.
If a taxpayer petitions the VAB for denial or removal of a property classification, exemption, value, or portability, that taxpayer must pay all non-ad valorem assessments and a portion of the ad valorem taxes before they become delinquent, usually by April 1.
When a taxpayer files a VAB petition for an assessment or portability, the taxpayer is still required to pay at least 75% of their ad valorem taxes. When a taxpayer files a VAB petition related to a classification, exemption, or whether an improvement was substantially complete on January 1, the taxpayer must make a good faith payment of the taxes they believe are owed.
If the VAB grants the petition and it results in a lower tax amount, the Tax Collector’s Office will issue a refund for any overpayment.