The Town of Peace River offers a Property Tax Monthly Payment Plan that enables you to pay your taxes monthly, instead of a single annual payment, making it easier to budget and eliminating the risk of late payment.
After you enroll in the plan, your monthly property tax amount will be withdrawn directly from your bank account on your choice of the first (1st) or fifteenth (15th) of each month. By paying your property taxes monthly you can be certain your property taxes are paid in full each year and you will not incur any late payment penalties.
There are no fees of interest charged when enrolling in the Monthly Property Tax Payment Plan. Current participants do not need to reapply.
How it Works
For the first six (6) months of the year, your monthly instalment is based on 1/12 of the previous year’s tax amount. The instalment amount is adjusted for the last six (6) months of the year based on the new annual tax amount.
If you join any time during a tax year (January 1-December 31), you must make up any “missed payments.” For example, if you decide to start automatic bank withdrawals on May 1, you need to make up the payments for January, February, March, and April.
The amount of property taxes each property owner in Peace River pays is unique to that property. Therefore, the process of joining this plan required the Town issue an enrolment application that reflects the current state of your property tax account.
Enrolling in the Monthly Property Tax Payment Plan
Step 1: Complete the Enrollment Request Form.
Step 2: Town of Peace River staff will review your request to ensure that your property is eligible for the plan. You will be sent an application form and preauthorized debit agreement (PAD).
Step 3: Review information, sign the application form and complete the PAD agreement.
Step 4: Submit the application, PAD agreement and a VOID cheque or your financial institution’s banking form to taxclerk@peaceriver.ca.
Important Information
- Check with your mortgage company to ensure they are not paying your property taxes on your behalf.
- Any payment returned non-sufficient funds (NSF) may result in termination of the plan and applicable NSF fees will apply. All outstanding taxes become due and payable and are subject to late payment penalties as per the Town of Peace River Tax Penalty Bylaw 2070.
- If the property taxes on your property are in arrears, all past due amounts must be paid prior to enrolling in the plan.
- When you receive your annual tax notice in May you will see a due date for the balance on June 30th. This due date does NOT apply if you are enrolled in the Monthly Property Tax Payment Plan. Your payments will continue to be withdrawn monthly.