Mayor Kirk Caldwell announced today that all property taxpayers on Oahu will be eligible to defer paying a major portion of their August tax bills, and instead pay in four installments to lessen hardships caused by the coronavirus pandemic.

“Instead of having to make a lump sum, six-month payment come August, it can be paid over a longer period of time, through four installments with no penalties, no interest assessed because of a spreading out these payments,” Caldwell said.

Businesses, residents and those in other property tax classifications would be eligible for the interest-free deferrals. They will be issued “coupons” allowing them to pay on Aug. 20, Sept. 20, Oct. 20 and Nov. 18, Budget Director Nelson Koyanagi said.

All property owners are experiencing some kind of economic hardship and no proof of a financial burden needs to be presented in order to get the deferral, Koyanagi said.

Property taxes are the city’s largest source of revenues. Property owners, in normal times, pay their taxes in two installments — in February and August.