Purchasing or Selling a Property
The City of Red Deer has extended the payment deadline for 2020 taxes to September 30, 2020. All tax accounts not registered on the Tax Instalment Plan (TIP) are required to be paid by the payment deadline to avoid penalty. Balances remaining unpaid will be charged a 7 per cent penalty on October 1, 2020. Penalties for 2021 remain as follows: 7 per cent on January 1, 2021 and 7 per cent on July 1, 2021.
We strongly recommend that after tax notices are mailed any tax account balance is settled at the time of the sale/purchase. Please note that tax notices are not provided to new owners if ownership changes after the annual notice generation.
New for TIP in 2020
The following changes effective now, have been made to our TIP program:
- Prior to completing a TIP Application, the applicant must be the registered owner with Alberta Land Titles, or provide a completed bill of sale for a manufactured home. Please note that ownership changes with Alberta Land Titles are typically updated in our system within 4-6 weeks from registration with land titles. Due to time delays that can occur with Alberta Land Titles, it is recommended that taxes be settled at the time of sale/purchase. Since new owners are only able to register for the TIP program once they are registered through Alberta Land Titles, this may mean that an application will not be accepted until the following January.
An initial payment is no longer required. The outstanding current balance will be divided equally among the remaining months in the calendar year. The account must not be in arrears.
What has not changed?
- The TIP Application deadline is June 15.
- Banking changes and cancellations must be submitted by the 15 of the month to be in effect prior to the withdrawal at the end of the month.
For more information please visit www.reddeer.ca/tip