Property owners have the option to pay the first installment of the original tax bill or wait until a revised tax bill is issued. A reassessment will result in the issuance of a revised 2017-18 property tax bill and property owners will have a minimum of 30 days to pay the first installment without penalty. There may be an income tax advantage to paying the original tax bill by December 31, 2017, so check with your tax professional to determine what is best for your situation.