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 PROPERTY TAX DELAYS  
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Property Tax Delays

Due to trending, a statewide reassessment of real property, it is likely that there will be delays in property tax receipts in 2007. Delays in property tax receipts may lead to defaults in bond payments for those bonds and leases payable from property tax levies or tax increment revenues. The status of trending is different for each county and the extent of the property tax delays, if any, will vary statewide. We suggest contacting your county auditor's office regarding the status of trending and property tax distributions.

There are a few options available to taxing units to help with delays in property tax receipts including the issuance of tax anticipation warrants. We would welcome the opportunity to discuss tax anticipation warrants and other options with you in more detail if your taxing unit is faced with a cash flow problem due to potential delays in property taxes.


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CIRCULAR 230 DISCLOSURE:

To ensure compliance with U.S. Treasury Department Regulations, we are required to advise you that, unless otherwise expressly indicated, any federal tax advice contained in this communication, including any attachments, is not intended or written by us to be used, and cannot be used, by anyone for the purpose of avoiding federal tax penalties.