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Prepayment Programs

Take the stress out of paying your taxes and set up monthly prepayments. After you have paid your current property taxes, you can set up monthly prepayments for next year's tax bill.

Simple interest will be paid on your prepayments each month until May 31 at the Province of BC rate on overpayment of taxes and is credited to your property tax account. This interest is considered a tax discount by the Canada Revenue Agency and is tax free.

Set up recurring payments using your online banking

Follow your financial institution's instructions to set up recurring monthly payments.

  • You will earn monthly interest on your payments.
  • Choose a payment date that works best for you.
  • An annual property tax notice, mailed to you in mid-May each year, will show the amount due after prepayments and interest earned. Make your final payment and claim your Home Owner Grant (if eligible) by the property tax due date to avoid penalties.

Monthly Pre-Authorized Withdrawal

Prepay your property taxes in installments through an automatic monthly withdrawal on the 15th day of each month.

There are no fees and you will earn monthly interest on your payments.

  • Monthly payments are withdrawn from your bank account on or after the 15th day of each month, starting in August and ending in May.
  • The final June payment is NOT automatically withdrawn from your bank account. You are responsible to make the final payment and, if eligible, claim the Home Owner Grant by the property tax due date to avoid penalties.
  • An annual property tax notice, mailed to you in mid-May each year, will show the amount due after prepayments and interest earned.

Changes to your Prepayment Plan

If you want to change or cancel your pre-authorized payment plan and/or if you sell your property, you can.

If you are cancelling your participation in the plan, please advise the District of Sicamous in writing 10 business days before the 15th of the month in order to provide enough time for the regular withdrawal to be cancelled before the next payment date. 

Prepayments received up until the cancellation date will remain attached to the property tax account. 

When selling your property your notary must determine the amount of money prepaid to your property tax account and should credit you accordingly in the sales document (Statement of Adjustments).

If you have sold your property you MUST cancel your pre-authorized payment plan by notifying the District of Sicamous (either in writing or by emailing us at finance@sicamous.ca. The sale of the property does not automatically stop the pre-authorized payment plan payment.

Applying for Automatic Monthly Prepayment Plan

To apply, please complete the online form at the bottom of this webpage. Please note that if you are renewing your payment plan, a new VOID cheque is not required.

Monthly payment amount

Your monthly payment amount is an estimate based on one-tenth of your current year’s net tax payable. The amount of your regular monthly payment for the next year will be included on your annual property tax notice. 

If you are beginning the program mid-year, monthly payments can be set at the amount that suits your budget. This will lighten the amount owing at the due date.  
    
Each month, the District of Sicamous will notify your financial institution of the amount of the withdrawal. The District does not charge for this service; however, your financial institution may make a charge for your withdrawal, depending on the type of account you have. 

If a withdrawal is not honoured by your financial institution for any reason, your property tax account will be charged a returned item fee of $25.

Provincial legislation requires that any current property taxes that remain outstanding after the due date will be charged a penalty. To avoid this penalty, taxpayers must ensure that any balance remaining on their property tax account (after prepayment installments and home owner grant have been applied), is paid in full by the property tax due date.

Application for Property Tax Pre-Authorized Payment Plan

Our pre-authorized prepayment plan for property taxes offers the following benefits:

  • Ten (10) monthly installments (August to May) will be withdrawn directly from your bank account.
  • Interest is paid to your tax account. The interest rate is set quarterly by the Province and may be more than you receive in your personal savings account.

Do not apply if:

  • Your mortgage company pays your taxes.
  • You are selling or subdividing your property in the next year.
  • You are planning to defer your property taxes through the Province (gov.bc.ca/propertytaxdeferment)

Prepayment Calculator:
If you need assistance, our finance team is happy to help!

Add: Property Tax Bill
Less: Home Owner Grant Claimed
Equals: Estimated Property Taxes to Pay
Divided by 10 Payments (August to May)
Equals: Property Tax Prepayment Amount

Transferring credits to your utility account:
We do not offer a prepayment plan for utilities; however, you can increase your property tax pre-payment amount and request transfers to your utility account when needed.

If you would like to use credits from your property tax account towards your utility bill, you must advise the finance clerk of this request in writing. Requests should be sent to finance@sicamous.ca at least 10 business days before the due date. A finance representative will advise you that the request has been received. An email example could read as follows:

Please transfer credits from my property tax account to cover my most recent utility bill.
My roll number is XXXXX.XXX.
Thank you, John Doe

 

Personal Information Collection Notice

Personal information on this form is collected under the authority of the Freedom of Information & Protection of Privacy Act (the Act) for administrative purposes of the District of Sicamous. Personal information is protected from unauthorized use and disclosure in accordance with the Act and may only be used and disclosed as provided by the Act. Questions regarding the collection of personal information can be directed to the Administrator or FOI Coordinator, District of Sicamous, PO Box 219, 446 Main Street, Sicamous, BC V0E 2V0, dco@sicamous.ca, 250-836-2477.

Enrollment Application

Property Owner Information

Please type your name.

Please note relationship if not a registered owner on the property.

Monthly Payment Amount

Void Cheque

*If you have selected "Change of Bank," an attachment is required.

Choose File No file chosen
The maximum total size of all files in a single form submission is 1 GB.

Auto Renew

Plan Details

1. NEW - This plan now auto-renews! If you would prefer to apply each year, please tick the appropriate box on your application.
2. You may cancel or change your plan anytime during the year. All cancellations or changes must be received 10 business days before the next withdrawal date. Requests must be made in person or by email to finance@sicamous.ca. If sent in by email, a staff member will respond back to confirm receipt.
3. Monthly tax prepayments are non-refundable. If the property is sold, you will receive credit through your Statement of Adjustments prepared by your Solicitor or Notary Public.
4. Your bank account will be charged with the amount of your request. Amounts have the following restrictions:

  • Minimum monthly payment is $25.00
  • This program is not to be used as a savings account, but rather to plan for next year’s taxes. Therefore, your property tax credit balance cannot increase above what is required. Use the prepayment calculator to
    determine your optimal payment amount. A finance team member may contact you if your prepayment amount needs to be reduced or your plan needs to be suspended due to an increasing credit balance.

5. You will be charged a $25 fee for payments returned by your bank. This includes, but is not limited to, returns due to Non-Sufficient Funds (NSF) and frozen bank accounts. If you are having issues with your bank account, email finance@sicamous.ca immediately to pause your plan.
6. If we receive two rejected payments, the prepayment plan will be cancelled.
7. This form can be used to make payments for outstanding taxes. Payments will be applied to outstanding taxes first, with all penalties and interest charges applied accordingly. Once in a credit balance, your account will receive interest.
8. Complete and sign the application and attach a “VOID” cheque. If you are renewing your plan on the same bank account, a “VOID” cheque is not required.
9. Applications can be dropped off at Municipal Hall, mailed in or emailed to finance@sicamous.ca.

  • *IMPORTANT REMINDER*
    When you receive your tax bill, it will identify if there is an amount still owing. The amount owing will not be automatically withdrawn from your account, so you must pay the final balance owing on your tax notice.
  • If eligible, claim your Home Owner Grant.

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