REQUESTING A PAYOFF OR PAYDOWN STATEMENT
It takes up to 5 business days to receive the payment instructions.
The fee is a common practice in the financial services and mortgage industries. The fee covers the cost to calculate the payoff or paydown amount and prepare the statement and instructions. Our Property Owner Payment Portal can provide a free estimated assessment balance, this is NOT a payoff amount as it does not include accrued interest and fees or possible credit for recent tax payments. If multiple payment instruction requests are ordered and delivered for the same assessment, a $50 fee will be charged for every request. This applies to applications with multiple assessments or if multiple payment instructions are requested for the same assessment.
This is not a penalty or premium, but rather a fee to cover the cost to generate payoff or paydown statements and instructions.
Currently, the estimated balance displayed on our Property Owner Portal should updated within 4 weeks after a payment has been received.
The payoff amount cannot be collected via the Property Owner Portal because the PACE assessment prepayment needs to be received by the government agency.
Confirmation emails are sent to all email addresses that are provided when a request is made through the Property Owner Portal.
At this time, requests can only be made through the Property Owner Portal. Any DTA PACE representative can assist by walking a caller or respective requestor through the website.
Certain corporate cards have personalized restrictions on the types of permissible transactions. This is a company setting, and in these instances, a different card must be used to complete the payment instruction request.
A new request for an updated payoff statement will need to be submitted within our Property Owner Portal.
MAKING A PAYOFF OR PAYDOWN ON AN ASSESSMENT
All questions around the calculations and amounts on the payment instructions should be made to the DTA PACE Program team that can be reached at 800-969-4382.
Payoff and paydown statements include instructions for making payments by either a check or wire transfer.
The payment may be rejected, and you will need to request an updated payment statement using the Property Owner Portal to ensure the accurate amount is being paid.
In general, the payment amount includes the outstanding principal, accrued interest, and associated fees and costs less any applicable credits.
Upon receipt of the funds in the Total Payoff Amount Due shown in the payoff statement, on or before the Payment Due Date, the appropriate jurisdiction will record an "Addendum to Notice of Assessment, Notice of Discharge of Assessment Lien and Discharge of Payment of Contractual Assessment Required" on the property identified with the Assessor's Parcel No. evidencing the payment in full of the assessment levied by the appropriate jurisdiction against such parcel and the discharge in full of the associated assessment lien against such parcel generally within 120 days.
Changes to the current year tax bill depends on numerous and various factors including in which county your property is located. However, in all cases following a full payment of the PACE lien there will be no PACE charge on the following fiscal year’s property tax bill.
Your full payment will need to be received by June 30th to guarantee that no PACE charge will appear on your upcoming property tax bill.