The Tax Installment Payment Plan (TIPP) simplifies your tax bill, allowing you to pay your property taxes on a monthly basis instead of one payment in June. Payments are automatically withdrawn from your account the 15th day of each month. TIPP makes budgeting easier and helps you avoid the risk of penalties. There are no extra fees or interest charged on the TIPP program.
Register for TIPP
- Complete the TIPP Registration Form.
- Once your registration form is received, an email will be sent to you with an application and next steps on how to complete your enrollment in TIPP. Agree to the terms and conditions of the plan, one of which is that all accounts with the Town must be current and remain current to participate in the plan.
- Complete and return your application no later than the “return by” date shown in the application.
- Include a void cheque or a print out of your banking information from your bank and make your applicable start-up payment by the “return by” date.
If you own more than one property, complete a registration for each location that you would like to enroll in the program. Only one void cheque is required if all payments are being withdrawn from the same bank account.
How TIPP works
The current year’s property taxes will be billed and mailed by May 30 and due by June 30. These taxes cover the period from January 1 to December 31 of the current year. If you pay through TIPP, and your payments are up to date, you don’t need to worry about the payment deadline or late payment penalties.
Your taxes are spread over 12 months. Payments start January 15, with your account being paid in full after your December 15 installment.
Your installment amount is calculated by dividing your most recent annual tax levy by 12. This amount is paid through automated withdrawals from your bank account on the 15th of each month from January to June. Once the current year's taxes are applied in June, your January to June credit installments are then subtracted from the taxes and the balance is divided by 6. This installment amount will reflect your payments that will be withdrawn from July to December. This ensures your account is paid in full by the end of the year.
Your tax bill will show:
- the TIPP credit-to-date (reflects TIPP payments processed from January - May)
- the total tax levy (reflects total taxes for the current year, January 1 to December 31)
- the balance owing (reflects TIPP payments to be made from June to December)
- the new TIPP payment amount starting in July
- your new TIPP payment amount starting January of the following year
- we review all installment amounts in December to ensure a zero balance
- TIPP automatically continues from year to year as long all TIPP payments are up to date
- we recalculate all installment amounts for January 15
Cancel your TIPP payments at any time by completing the TIPP Cancellation Form. Please note, cancellations must be submitted in writing 10 business days prior to the next TIPP installment date, as per our guidelines.
Change of Banking Information - TIPP
Please complete the Change of Banking Information Form, allowing 10 business days prior to the next TIPP installment date.