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POLICY #2000-06-10
MUNICIPALITY OF THE COUNTY OF PICTOU
POLICY ON INTEREST REFUNDS - OVERPAID TAXES AS THE
RESULT OF SUCCESSFUL ASSESSMENT APPEALS
In accordance with Section 1 14 (2) of the Municipal Government Act, being Chapter 18
of the Revised Statutes of Nova Scotia, 1998, the Municipal Council for the Municipality
of the County of Pictou hereby enacts a policy with respect to interest refunds on overpaid
taxes as the result of successful assessment appeals as follows:
1 . After an assessment appeal is determined, and any appeal from that decision is
decided, any taxes that were overpaid and are to be refunded to the taxpayer
appellant shall bear interest at a rate equal to the rate actually earned by the
Municipality of the County of Pictou, on the Municipality's Canadian dollar surplus
current account with its banker during the period from the date any overpayment
occurred, until the date any overpaid taxes are refunded to the taxpayer appellant.
2.
For the purpose of this policy, interest on overpaid taxes is deemed to be refunded
to the taxpayer appellant on the date of the cheque paying the refund of tax and
interest.
3.
The interest rate shall be determined, and the interest calculated monthly, but the
interest shall not be compounded.