Tax Installment Payment Plan (TIPP)
What is TIPP?
The Tax Installment Payment Plan (TIPP) is a monthly payment plan that allows tax payers to make twelve monthly payments rather than a single annual payment. Upon application, the Town of Teulon will arrange for payments to be withdrawn automatically from your account.
How does TIPP work?
Generally, payments will begin in September and continue monthly until the following August to cover the annual property taxes. Payments are based on the previous year’s taxes. Payments are made by automatic withdrawal from your chosen bank account on the 15th of every month. In cases where the 15th falls on a holiday or weekend, the withdrawal will be made on the following business day. Once the tax bill has been issued, the final payment(s) will be adjusted in order to ensure all taxes are paid by August 31st.
How to join TIPP?
Step 1: Confirm your tax account is at a zero balance
Step 2: Complete the tax installment payment program agreement form (link below) & attach a void cheque or electronic funds transfer form
Step 3: Submit the completed form and void cheque in person, by mail, our 24 hour drop box, or email to info@teulon.ca.
What happens if I join later in the year?
Payments will begin in the month you join, as long as the form is submitted 14 days before the 15th of the month. We will still calculate the monthly payments based on the previous year’s taxes. However, the monthly payment amount will be higher depending on how many months are remaining until the August 31st due date to make up the difference of the previous missed months.
Cancellation/Selling/Additional Properties
You may withdraw from TIPP, for any reason, including having sold the property, by giving written notice by the 1st of the month before the next payment date. It is important to understand that if you withdraw or cancel, all unpaid taxes become due and payable, and will be subject to penalties if late.
Please submit one TIPP agreement form with a void cheque per property and/or roll number. The agreement is not transferrable to multiple properties.
Do I have to apply each year?
No, TIPP is renewed automatically each year.
What happens if I change banks?
If you wish to change the account used for your TIPP payment, please notify the Town Office in writing with a new void cheque by the 1st of the month. Please allow adequate time as payments returned due to invalid banking information will be subject to a $25.00 charge.
*The Town of Teulon warrants that it will maintain the confidentiality of all information and will use it exclusively for the purposes of affecting the payment services of CAFT.