Prepaying Property Taxes
- You can pay monthly or as often as you like to your Property Tax account
- Ways to prepay taxes:
- On-line banking payments (you set up)
- Pre-Authorized Withdrawal program (PAWS)
- Post dated cheques
- You decide how much is withdrawn (we can help with an estimate or use the on-line Property Tax Estimator)
- Interest is earned on any credit to a tax account
- No receipts are mailed, but you can view your payments through your MyCity Account, bank statement, bank receipt or canceled cheque.
- You can set up a MyCity account to view your tax balance as you make payments anytime
- Total prepayments on your next Property Tax Notice are itemized as "Prepayments/Adjustments"
- Overpaying taxes (a negative bottom total) - the credit will carry forward to next years taxes and earn interest
- Some taxes still owing -the bottom total on the Property Tax Notice is less all prepayments and interest earned. This balance must be paid by the due date to avoid penalties.
|PAWS||On-line Banking Payments|
|Requires Application/Void Cheque to Start||Yes||No|
|Frequency of Payments||Once a month||As often as you choose|
|Payment Date||5th of the Month||Any day|
|Changing the amount or Stopping a Payment||Email or request form must be submitted 10 Business days before next withdrawal||Up to the Night before|
|Payment in June||No||Yes|
|Payment/Amount in July||Only if signed up for "Due Date" option/amount will be the remaining balance stated on the Tax Notice||Yes, any amount|
|Selling the Property - Canceling Payments||Cancellation Form or Email must be submitted 10 business days before next withdrawal||Can cancel immediately through your on-line banking|
|Returned Payment||$25.00 Service Charge||Bank will not process if funds not available|