Bylaw No. 749 - A Bylaw to Implement a Monthly Preauthorized Tax Prepayment Plan

TOWN OF VIEW ROYAL BYLAW NO. 749

As amended by Bylaw No. 892, 2014

A BYLAW TO IMPLEMENT A MONTHLY PREAUTHORIZED TAX PREPAYMENT PLAN

The Council of the Town of View Royal, in open meeting assembled, enacts as follows:

1. This Bylaw may be cited as “Monthly Preauthorized Tax Prepayment Plan Bylaw No. 749, 2010“.

2. The Council shall be and is hereby empowered and authorized to establish a monthly preauthorized tax prepayment plan for the taxpayers of the Town of View Royal.

3. The taxpayers of the Town of View Royal shall have the right to enter into a Tax Prepayment plan to provide for the payment of property taxes and special charges in equal monthly payments from August fifteenth of the year preceding, to May fifteenth of the year in which current taxes are due.

4. The amount of the installment that will be withdrawn on or after the fifteenth day of each month from the property owner’s bank account (except June and July) by the Town of View Royal will be calculated by dividing the previous year’s gross taxes, less the Provincial Home Owner Grant, if claimed, by ten, with a minimum payment of $10.00. (Amendment Bylaw No. 892)

5. The plan shall commence on the fifteenth day of August each year, provided that all property taxes and special charges for the current year are fully paid prior to the commencement date.

6. The difference between the taxes for the current year and the total of the equal payments authorized and paid under the plan will be due the second day of July in the current year. Any balance remaining unpaid after the second day of July in any year will be subject to the penalty provisions of the Community Charter.

7. A monthly payment dishonoured and returned for any reason from any financial institution, shall have the current return cheque charge added and charged back to the taxpayer’s tax account. The Collector may cancel the privilege of continuing in the plan if two consecutive monthly payments fail to be honoured.

8. Upon receipt of the said monies, the Collector is empowered and required to credit the account(s), toward which such monies are paid, with the amount thereof together with interest thereon paid by the Town at the rate of three percentage points below the Town’s banker’s prime rate to a minimum of 0.25%, and calculated on a daily basis from the date of payment to the second day of July following.

9. The interest earned pursuant to Section 8 of this bylaw will be applied to the tax account(s) as a discount against the taxes due in each year.

10. The taxpayers participating in this program shall provide the Town with authority to debit their bank account each month by the amount calculated pursuant to Section 4 of this bylaw.