What is it?
It is a plan that will allow you to pay next year's taxes by automatic monthly deduction from your bank account.
Why Should I Participate?
- It's convenient - It will assist you in your budgeting. It will eliminate the impact of one large payment in July.
- It's safe and secure - There are no cheques to get lost or stolen. Your authorization is required to participate in the plan. You can withdraw from the plan at any time.
How Do I Apply?
It's easy to start - All you have to do is complete the authorization form (fillable form) and enclose one of your personal cheques marked "VOID".
How Does the Pre-Authorized Debit (PAD) Plan Work?
- The monthly payments will be collected on the 21st day of each month
- You will have the following options:
1) 12 equal monthly payments calculated by estimating next year’s taxes (net of the Home Owner Grant, if eligible) and dividing by 12. Payments are made from July to June. If there is an amount owing after the June payment, you are responsible for that payment before the tax due date (first business day after Canada Day holiday) in order to avoid a penalty;
2) 11 equal monthly payments, calculated by estimating next year's taxes (net of the Home Owner Grant, if eligible) and dividing by 12, with the final payment amount happening in month 12 and automatically withdrawn from your bank account.
3) A monthly amount you decide on.
- You are responsible for applying for the Home Owner Grant, by the due date to avoid any penalties.
You Can Join the Plan If:
- Your property taxes are paid in full
- You are not paying your taxes through your mortgage
Things to Know
- The agreement is valid until terminated in writing by either party
- You can join and withdraw at any time
- If you change your bank account, please advise us and provide us with a new cheque marked "VOID" at least two weeks prior to the next payment date
- Any refunds will be at the discretion of Village staff and administrative fees may be applied.
- If any payment is not honoured by your financial institution, a service charge will apply.