[Adopted 1-18-2017 by Ord. No. 782, approved 1-18-2017]
Borough real estate taxes may be paid in three Installments, due on or before the following dates:
A. 
First. Thirty-three percent of the tax shall be due and payable on or before March 31 of each specific tax year, or the following Monday should that date fall on a weekend;
B. 
Second. Thirty-three percent of the tax shall be due and payable on or before May 31 of each specific tax year, or the following Monday should that date fall on a weekend; and
C. 
Third. The remaining balance of taxes due shall be due and payable on or before July 31 of each specific tax year, or the following Monday should that date fall on a weekend.
Should the full amount of real estate taxes due to the Borough for the entire tax year be paid on or before the first installment date, the amount due shall be entitled to a discount of 2%.
A. 
Installment penalty. Should a party elect to participate in the installment payment system by timely making the first installment payment, but fail to pay the second installment on time, the amount that is unpaid of the second installment shall be charged a penalty of 10%. Said party shall still be permitted to pay the third installment on or before the date for the third installment. Should said party fail to pay the third installment on time, the amount due and owing shall be charged a penalty of 10%.
B. 
Noninstallment penalty. Should a party elect not to participate in the installment payment system, by failing to timely make the first installment payment, all borough real estate taxes are due to the Borough on or before the second installment date of May 31, or the following Monday should that date fall on a weekend. All taxes due and owing to the Borough after the second installment date of May 31, or the following Monday should that date fall on a weekend, of those not participating in the installment payment system shall be charged a penalty of 10%.
Payment of Borough real estate taxes through the installment payment system is optional. Those owing real estate taxes to the Borough may still elect to pay their real estate taxes in a lump sum on or before May 31, or the following Monday should that date fall on a weekend, of each specific tax year.