Late Payment Charges

Property taxes are the primary source of revenue that funds the delivery of municipal services. There is a cost to the City when payment is not made when it becomes due. Non-payment of property taxes is subject to two (2) separate late payment charges as follows:

Penalty

A penalty of 1.25% is added to your tax account the day after an installment payment is due. For example: Your tax installment of $1,000 is due February 15. A penalty of $12.50 is applied to the tax account on February 16 if payment is not received by the end of the business day on February 15.

Interest

Interest is charged at a rate of 1.25% on any taxes not paid in a previous month. Interest is not calculated on interest or penalty previously charged. For example: As of March 30, total outstanding taxes on your account are $3,000 (exclusive of any previous penalties or interest). A penalty of $37.50 will be added to the account on April 1 if payment is not received by the end of the business day on March 30.

Late payment charges cannot be waived once charged unless there is an administrative error or overcharge. Should you subsequently remit payment for taxes, your payment will be applied first to any late payment charges and then to the taxes. This will leave a balance of tax owing if you do not remit the full amount outstanding. Any balance owing will continue to attract late payment charges until paid in full.

For example: As of June 30, outstanding taxes on your account are $2,000 plus late payment charges of $75. On July 1 there will be an interest charge of $25 added to the account. On July 10 you remit $2,000, which will first pay the $100 late payment and interest charges and then be applied to pay $1,900 of the taxes owing, leaving a balance due of $100. On August 1 there will be an interest charge of $1.25 added to the account.