Red Deer property owners have only a few days left to sign up for the Tax Instalment Plan (TIP) before the deadline on June 15.
Through the TIP program, property owners can sign up to divide their property tax bill into equal monthly payments for the remainder of the year. For those that sign up by June 15, their 2021 tax bill will be divided into seven equal payments from June to December.
“The TIP program is great, and very popular. In early May, we had just over 40 per cent of property owners signed up, with many more since then,” said Roxane Preedin, Controller - Property Taxation. “Aside from easy monthly payments, one of the great benefits is the extended time to pay off your property taxes without penalties.”
Payments are setup as automatic withdrawals from the property owner’s bank account. Each month, payments are collected at the end of the month and, so long as the owner meets their payment obligations, tax penalties do not apply.
“We know that some of our taxpayers require a little extra assistance at this time,” said Preedin. “With TIP, they don’t need to pay their full tax bill by June 30, so will see some short-term relief.”
TIP payments are calculated by dividing the property tax bill by the number of months remaining in the year. Program participants are automatically enrolled for the following year unless they choose to cancel.
Property owners have until June 15 to enroll, and can sign up online at reddeer.ca/TIP.
For those not registered for the TIP program, property taxes are due by June 30. A 3.5 per cent penalty is automatically applied to any unpaid taxes on July 1.
For more information, please contact:
The City of Red Deer