Tax Prepayment Plan Bylaw No. 3026, 2025 — full text

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CITY OF PITT MEADOWS TAX PREPAYMENT PLAN BYLAW NO. 3026, 2025 A bylaw to implement a pre-authorized prepayment plan by automatic monthly deduction WHEREAS the Council of the City of Pitt Meadows is authorized to enact a Bylaw that provides for payment of taxes before the due date; AND WHEREAS the Council of the City of Pitt Meadows deems it desirable to implement a pre-authorized tax prepayment for the taxpayers of the City to be collected over a period of ten (10) months; NOW THEREFORE the Council of the City of Pitt Meadows enacts as follows: Citation/Title This Bylaw may be cited as the "Tax Prepayment Plan Bylaw 3026, 2025". Interpretations and Definitions A reference in this Bylaw to a statute refers to a statute of the Province of British Columbia, and a reference to any statute, regulation, or bylaw refers to that enactment, as amended or replaced from time to time. If any portion of this Bylaw is declared invalid by a court of competent jurisdiction, then the invalid portion will be severed and the remainder of the bylaw is deemed valid. Definitions In this bylaw: a) "Collector" means the Director of Financial Services, being the City officer assigned responsibility as collector of taxes for the City; b) "City" means the City of Pitt Meadows; c) "Due date" means the day in the year designated by Council as the due date for payment of taxes, d) "Pre-authorized prepayment plan" means a plan for the payment of taxes, by means of pre-authorized automatic debit arrangement with the taxpayer's financial institution; e) "Interest rate" means the rate designated by the principal bank of the City of Pitt Meadows. f) "Taxpayer" means a person liable to the City for the payment of property taxes. Bylaw No. 3026, 2025 Page 2 196564 Regulations The City's pre-authorized tax prepayment plan, established by previous bylaws, is continued and will operate in the manner and to the extent prescribed by this Bylaw and the Community Charter. The Collector is authorized to receive prepayment of taxes before the Tax Notice due date on the terms set out in this Bylaw. Subject to section 8, a taxpayer may apply to the Collector to enter into a pre- authorized prepayment plan by submitting to the Collector a completed application form and with supporting documentation as established by the Collector. A taxpayer with delinquent taxes or taxes in arrears is not eligible to enter or continue into a prepayment plan with the City. The Collector is authorized to accept and hold amounts paid as payment of taxes before the due date on the following terms: a) All monies paid in accordance with a pre-authorized prepayment plan will earn simple interest on the daily balance of the amount held in the property's account for instalment payments for taxes. b) The rate of interest payable will be equivalent to the quarterly rate of the principal bank of the Province of British Columbia less 3.0 percent. c) No interest is payable each year during the period from June 1 to July 31. d) The interest rate will be updated on the 1st of each month, from August 1 to May 1. e) The pre-authorized prepayment plan shall commence on the 5th day of August of each year, consisting of ten (10) equal payments in the amount no less than Ten Dollars ($10.00) per installment to be applied against property taxes, which will become due the following year. A participating taxpayer may cancel a pre-authorized payment plan at any time by providing notice to the City at least ten (10) days prior to the date of the next pre-authorized payment. Property tax accounts with a credit balance, will have the credit applied to future year tax balances; there will be no refunds issued under this plan. A participating taxpayer who fails to pay a scheduled prepayment of taxes will be subject to the "Returned payments" service fee in accordance with the Financial Services Fee Setting Bylaw No. 3004, 2025. If the taxpayer fails to make two (2) Bylaw No. 3026, 2025 Page 3 196564 or more pre-authorized prepayments in a year, the pre-authorized prepayment plan may be cancelled. Any balance remaining unpaid after the tax due date in any year will be subject to the penalty provisions of the Community Charter and the City's tax rate bylaws, as applicable. If eligible, the taxpayer must still apply for the homeowner grant after receiving the tax notice. The estimate of next year's prepayment will be based on the taxpayer's continued eligibility for the grant. Repeal Tax Prepayment Plan Bylaw No. 1958, 1999, and its amendments, are hereby repealed. Effective Date This bylaw will come into force and take effect on August 1, 2025. READ a FIRST, SECOND and THIRD time on June 24, 2025. ADOPTED on July 8, 2025. Nicole MacDonald Mayor Kate Barchard Corporate Officer