Mason and Deerfield Township homeowners have until Wednesday, Aug. 12 to pay their second-half property taxes or face a 5% penalty starting the next day.

The deadline is about two weeks later than Warren County's traditional July 29 due date. The Ohio Tax Commissioner authorized the extension after House Bill 186, which created a new Inflation Cap Credit, required additional calculations before bills could be mailed.

A joint notice from the Warren County Treasurer and Auditor advised residents not to submit payment until they receive their bill or can view the exact amount on the treasurer's website.

Under Ohio law, a 5% penalty applies beginning Thursday, Aug. 13, increasing to 10% shortly after. Homeowners who pay through escrow do not need to take action.

Treasurer Randy Kuvin, a CPA, told the Warren County Board of Commissioners at their Tuesday meeting that his office processes between 500 and 750 penalty remission requests each year and approves about 90% of them for taxpayers without a pattern of late payments. Applications are available on the treasurer's website.

County's $360 million portfolio beating expectations

At the same July 28 meeting, Kuvin presented the quarterly Investment Advisory Committee report showing Warren County's surplus fund is outperforming its budget. The county held just under $360 million in invested surplus funds as of June 30 and is on pace to earn more than $14 million in investment income this year, roughly $2 million above what was originally budgeted, according to Warren County Post reporting on the meeting.

Kuvin expects the invested balance to grow to approximately $370 million by year's end as the county receives its share of property tax collections before distributing funds to local governments and taxing districts.

The county also maintains about $80 million in liquid assets through Star Ohio, the state's public investment pool, currently earning 3.82% interest. That rate is nearly equal to the county's overall weighted yield, a sign that interest rates have stabilized after a period of decline Kuvin flagged at the January 20 commissioners meeting.

"We should be able to maintain that kind of rate of return on our core investments for the foreseeable future," Kuvin said at the July 28 meeting, projecting annual investment income will likely stay between $14 million and $15 million over the next three to five years.

Kuvin is expected to return in October to present the next quarterly investment report. The Treasurer's Office at 406 Justice Drive in Lebanon is open Monday through Friday, 7:30 a.m. to 4:30 p.m. Payments can also be made online or by phone at 513-689-4800.