Payment in full must be received prior to July 31st of the year in which you intend to pay off your balance; verify the balance due directly with the customer billing services division 239-242-3853. The deferred method means you will not be required to make any payments toward the balance of utilities for up to 10 years, however if you refinance or transfer the property the balance is due in full at that time plus interest and fees. Amortization allows for annual payments rolled into the property tax bill which can then be transferred to a new owner at time of closing if the balance is not paid in full.
The city recognizes that not everyone is able to afford an increase in their tax bill. In an effort to work with homeowners that are experiencing difficulty the deferral program was created. Participating in the program is pretty simple and there is criteria that must be met. Application to receive assistance must be made each year and the property must be homesteaded with current property taxes paid and no pending foreclosure actions.
* Information should always be verified directly with the city of Cape Coral as it is subject to change.
Send me a email and I will share the chart the City is using to explain the cost.
Adolfo "A.D." Diaz