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Old 01-08-2015, 02:04 PM   #1
Mortgage Made Easy
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Join Date: Sep 2014
Location: Calgary, AB
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Default 2015 PROPERTY TAXES – City of Calgary

Originally Posted by troutman - Check out his Blog

2014 Important Dates

January 1 to December 31 – Property tax bills cover the calendar year.
May 23 – Property tax bill mailing.
June 30 – Property tax payment deadline.
July 1 and October 1 – 7% penalty added to any unpaid tax bill balance.

Calgary city budget debate: Council votes for slightly reduced tax hike
Property tax increase now proposed at 4.5%


Payment Options

Property taxes are levied for the calendar year. If you pay your taxes in one lump annually, the bill is sent at the end of May, and must be paid before July 1 to avoid penalties. This is typically paid by the property owner directly to the City. In other cases, the annual tax is paid by the mortgage lender, where the property owner pays a property tax component to the lender with each payment on principal and interest.

Most people tend to pay the taxes through the monthly TIPP program, where the City withdraws a payment from your account on the first of every month.

Tax Instalment Payment Plan

When you buy or sell a property in Calgary, your lawyers will prepare a Statement of Adjustments, to apportion the fair share of taxes for the year to each party.
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Tim
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Kardia Mortgage Inc
www.TimLacroix.com

If you have any questions please feel free to PM me or email puckforum@cgymortgage.com

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Last edited by Mortgage Made Easy; 01-21-2015 at 01:47 PM.
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