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## BY-LAW NO. 176-94
- A BY-LAW OF THE VILLAGE OF GLENWOOD IN THE PROVINCE OF ALBERTA, FOR THE IMPLEMENTATION OF AN TAX INSTALIMENT AGREEMENT PLAN,
- WHEREAS, the Municipal Taxation Act, Chapt. M-31 R.S.A 1980 as amended, permits council to establish the day on which taxes of installments thereof may be paid:
- AND WHEREAS, the Municipal Jaxation Act, Chapt. M-31 R.S.A. 1980, as amended, permits council to provide for the payment of taxes by installments:
NOW THEREFORE, COUNCIL Of the VILLAGE Of GLENWOOD in the PROVINCE OF ALBERTA, pursuant to the terms of the M.I.A. as amended, ENACTS AS FOLLOWS:
1. Taxpayers of the VILLAGE OF GLENWOOD shall have the right to enter into a Pre-authorized Tax Installment Agreement to provide for payment of residential property taxes and local improvement taxes in egual monthly installments from January to December in any year. This agreement must be signed prior to January 15th in any year.
2. The Plan shall commence in January of each year provided that all property taxes, improvement tax arrears, and penalties are fully paid on or before December 3lst of the preceding year.
3. MONTHLY INSTALLMENTS SHALL BE CALCULATGED AS FOLLOWS:
4. (A) The monthly payment for the period January 1 to May 3lst shall be five (5) egual payments calculated by dividing the previous years tax levy by twelve (12).
5. (B) The monthly payment for the period June 1 to December 31st shall be seven (7) equal payments calculated by crediting the current years tax levy with the amount paid in the first 5 monthly payments and dividing the remaining balance of the current years tax levy by seven (7).
4. MONTHLY PAYMENTS SHALL BE MADE PRIOR TO THE END OF EACH MONTH.
5. After two (2) monthly installments are defaulted by the taxpayer the Village shall cancel the said monthly Tax Installment Agreement and all taxes on said residential property shall be due and payable in accordance with the Tax Penalty By-Law of the Village of Glenwood.
8. A copy of the Monthly Tax Installment Agreement is attached to and forms part of this By-Law.
READ a FIRST TIME this 16TH day Of NOVEMBER, 1994
READ a SECOND TIME this 16TH day of November, 1994
- READ a THIRD TIME and FINALLY PASSED THIS 16TH DAY OF NOVEMBER 1994
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