Changes are coming to the Town of Castlegar’s Pre-Authorized Property Tax Payment (PAP) plan.
The plan allows taxpayers to make automatic monthly installments into their property tax accounts before the annual tax levy. Over 540 residents are currently using the program.
City staff recommended several changes aimed at addressing administrative inefficiencies and aligning the policy with current operational practices.
The number of payments in the PAP will be reduced from 12 to 10 so that the tax notices reflect all payments made before the due date and that the recalculation of the annual withdrawal can take place before the start of the plan for the year next. Payments will be taken from August to May.
Information on how to subscribe to the prepayment plan can be found at www.castelgar.ca.
Overpayment credits will no longer be refunded but will instead be applied to the following year and will reduce the monthly payment for the following year. In the case of a sale of property, it is necessary for the transferring lawyer or notary to apply any credit to the statement of adjustments.
Modification of the tax deadline
The city is also making changes to the official deadline for paying taxes before penalties apply.
The previous regulations were passed in 1975 and the update should better reflect how business is done today, including after-hours online banking. The deadline has been moved from 4:30 p.m. to 11:59 p.m. on July 2.