How Much Can I Pay?
The minimum monthly allowable payment is $10.00. Your projected monthly payment is shown on the bottom front portion of your tax bill. This estimate is based on the prior year's gross taxes and utilities plus 4.5%, minus the Home Owner Grant allowed.
If you're a new owner and need assistance in determining your monthly installment, please contact the City Property Tax Office.
How to Enroll
Enrolling is quick and easy.
- Complete the Pre-Authorized Payment Plan Application Form.
- Enclose (or scan) a personal cheque marked VOID.
- Either email the form and VOID cheque to prepayment@cnv.org, or mail to City Hall, or drop off at City Hall (24-hour drop box at north and south entrances).
Prepayment Dates
Eleven equal payments will be withdrawn from your bank account, starting August 1 each year. The final 12th payment will be the difference between the actual amount of the current tax bill and prepayments collected, plus interest earned up to the tax due date. This final prepayment will be withdrawn from your bank account on the tax due date each year and will appear on a separate line on your tax bill. An amount equal to the utility bill will be transferred from your tax prepayment funds on the due date.
Note: To avoid penalty, the Home Owner Grant must be claimed prior to the tax due date. The pre-authorized payment plan is not a substitute for claiming the grant.
Eligibility: All current year's taxes and utility rates must be paid by the due date of the current year.
Prepayment Dates: Eleven equal payments will be withdrawn from your bank account, commencing August 1 each year. The final or 12th payment will be the difference between the actual amount of the current tax bill and prepayments collected, plus interest earned up to the tax due date. This final prepayment will be withdrawn from your bank account on the TAX DUE DATE each year and will appear on a separate line on your tax notice. Any participants starting after August 1 will have payments prorated equal to the remaining months up to the tax due date. An amount equal to the Annual Flat Rate Utility statement will be transferred from your tax prepayment funds on the due date.
Year to Year: Your Pre-Authorized Payment Plan direct withdrawal monthly amount will continue and change each year to reflect the current year's taxes and utilities. Your new monthly amount will be reflected on the bottom portion of your annual tax notice. The Pre-Authorized Payment Plan is in effect until terminated in writing by the taxpayer/representative, received by the Tax Office 10 days prior to the next withdrawal.
Interest Paid: Prior to the property tax due date, interest on installments paid to the date shall be credited to the benefit of the taxpayer in a special account. Revenue Canada's Interpretation Bulletin 1T-396R states that interest earned and applied to municipal taxes is considered as a reduction of the amount payable and is not income for income tax purposes.
Avoid Penalties: Annually, you must apply for the Home Owner Grant (if eligible) by the DUE DATE. Your prepayments are calculated net of Home Owner Grant eligibility stated on application.
Changes to your Pre-Authorized Payments: Examples include changes to monthly amounts, bank account information and Home Owner Grant status. Written notification must be received 10 days prior to the payment withdrawal date.
Property Sold or For Sale - Cancel Pre-Authorized Payments. Owners or their representatives must notify the City to discontinue the plan before the property is sold. NO refund of prepayments will be issued by the City as a result of owner's failure to discontinue the plan upon transfer of property. Credits must be adjusted between Purchasers and Vendors on Statement of Adjustments.
Dishonoured Payments: All dishonoured payments will be subject to a service charge. The Director of Finance may cancel the privilege of continuing in the prepayment plan if two installments fail to be honoured on the due date by the taxpayer's financial institution. Taxpayers are responsible for notifying the Tax Office of any changes in financial institution, bank account, etc. Written notification must be received 10 days prior to the next withdrawal.
Recourse Rights: You have certain recourse rights if any debit does not comply with this agreement. For example, you have the right to receive reimbursement for any debit that is not authorized or is not consistent with this Pre-Authorized Payment Plan. To obtain more information on your recourse rights, contact your financial institution or visit the Payments Canada website.