Understand the options you have to pay your PACE assessment

PACE financing is easy. Choose to pay your PACE assessment on your property tax bill (for the term of the financing); or pay off or pay down the assessment by making a pre-payment.

(Option 1) Paying the PACE assessment (based on agreed-upon terms).

  • Pay the assessment as you currently do -- once or twice a year, depending on how property taxes are billed where you live. (Or pay monthly through an impound or escrow account.)
  • The assessment will appear as a line item on your property tax bill.
  • The assessment will continue to appear on your bill for up to 30* years (based on the term length of your financing).

(Option 2) Prepayments

Another approach to paying off the assessment quicker is to make pre-payments. This may shorten the years required to repay the cost of your home improvement as part of your property taxes. A pre-payment can be done in the following ways:

  • Paying down the assessment: Any additional payment made outside your regular tax bill is called a paydown.
  • Paydown pre-payments must be of at least $2,500 or the outstanding assessment balance, whichever is less.
  • Paying off the assessment: A payment that pays for the assessment in full is known as a payoff. By completely paying off the assessment, you remove the tax assessment from your property.
  • There are no prepayment penalties should you wish to pre-pay your RenewPACE or CaliforniaFIRST tax assessment. If you are interested in paying down or paying off your assessment, please click on the button below to submit your request.

Download our Frequently Asked Questions: California Homeowners | Florida Homeowners

Request a payoff or pre-payment