Miami-Dade County Tax Collector Dariel Fernandez introduced Monday that his workplace has begun accepting Bitcoin as a cost choice for property taxes — each on-line and in particular person — making Miami-Dade one of many first authorities companies within the nation to take action.
The transfer is a part of a broader push by the Tax Collector’s Workplace to modernize providers and broaden comfort for property homeowners throughout the county.
“Authorities should sustain with the instances and the wants of the individuals we serve,” Fernandez stated. “Innovation is about making authorities extra accessible, environment friendly, and handy. By accepting Bitcoin as a cost choice, we’re giving property homeowners one other approach to pay their taxes, whether or not on-line or in particular person, whereas persevering with to supply the standard cost strategies they already know and belief.”
The way it works
Property homeowners who select to pay with Bitcoin can choose the cryptocurrency choice in the course of the on-line checkout course of or request it when paying in particular person. From there, customers join a supported cryptocurrency trade account or digital pockets and authorize the cost.
The transaction is then routinely transformed into U.S. {dollars} earlier than the funds attain the Tax Collector’s Workplace — that means the workplace by no means holds, invests in or manages cryptocurrency instantly.
“Residents deserve a authorities that strikes ahead, not one which falls behind,” Fernandez stated. “We’re embracing new know-how with out compromising our accountability to guard taxpayer {dollars}. Whether or not somebody chooses to pay with Bitcoin or a conventional cost methodology, our workplace receives the total quantity owed in U.S. {dollars}. That is about offering extra decisions whereas sustaining the monetary accountability and transparency our residents anticipate.”
Tax collector says no danger to taxpayer {dollars}
As a result of all payments are settled in U.S. {dollars}, the Tax Collector’s Workplace says it’s insulated from fluctuations in cryptocurrency market costs. The workplace says it’ll obtain the total quantity of taxes owed no matter Bitcoin’s worth on the time of the transaction.
The workplace says cryptocurrency transactions are additionally recorded inside the workplace’s commonplace cost reporting system, preserving accounting and reconciliation procedures intact — with out requiring the federal government to take care of cryptocurrency wallets or handle digital property.
Conventional cost choices stay
Cryptocurrency payments are completely non-obligatory. All current cost strategies stay accessible for property homeowners preferring to pay by conventional means.
The Tax Collector says the initiative builds on the workplace’s broader efforts to modernize authorities operations, broaden digital providers and make important providers extra accessible to Miami-Dade County residents.
Property homeowners can study extra concerning the new cost choice at www.mdctaxcollector.gov.
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