How is PACE financing paid back?

The amount financed through PACE will appear as a new line item on the property tax bill, and a lien will be placed on the property until the financing is fully repaid. This is no different from how other secured financing methods would work and is what enables the rates to be low while also allowing you to obtain longer repayment terms and larger financing amounts. 

Although PACE payments are billed annually, the timing and method of payment will depend on when the county collects the property taxes and how you pay for your property taxes.