Tax Payment PlanProperty Taxes
2011 Tax rates:
- Commercial 12%
- Residential 8.73%
- School Requisition Residential 2.25%
2011 Tax Information
Tax Payment Plan:
Tax Payment Plan allows an individual to pay taxes over 12 months; January to December of each year instead of it being due on August 1st. The Tax Payment Plan is regulated by Town Office, therefore the Town Office stipulates the monthly payment amount. The first 6 payments (January 1st to June 1st) are based on last year’s levy divided by 12 months or by how many months is left in the year, if you sign up later than January 1st. Once the tax notices are sent out in June, the tax payment plan is recalculated for July 1st to December 1st based on the levy that is on your current tax notice. Therefore, your payment amount in July 1st of each year can increase, decrease or stay the same depending on what Town Council sets as the tax rate, as well as what the assessment is for the year. Once you have received your tax notice, please be aware that at the bottom of your statement it will state your new monthly amount beginning July 1st.
In order to enroll into the Tax Payment plan you must fill out a form accompanied with a void cheque or direct deposit slip. Payment is taken out of your account on the 1st of each month. There can be NO outstanding amount on your tax account in order to register into the plan. An individual has until May 30th of each year to sign up for the tax plan, the monthly payments are more to compensate for any missed months.
Also note, if any payment is returned to the Town of Penhold for any reason, we reserve the right to withdraw you from the plan and the tax amount would be due on August 1st and subject to any penalties.
Keep in mind once you are on the tax payment plan and if your banking information changes, Town Office needs to be informed by completing a ‘Change of Bank Information’ form. This is important because if your payment is rejected, you can be subject to penalties and withdrawn from the program. Please allow 10 days for processing of this information.
Cancelling from the Tax Payment Plan:
If you are moving or no longer wish to be in the program, please complete the cancellation form and submit it to Town Office 10 days prior to the 1st of the month to ensure that payment will NOT be processed through your bank account.