June 24th, 2024

Council passes tax bylaw for prepayment

By Al Beeber - Lethbridge Herald on December 16, 2022.

LETHBRIDGE HERALDabeeber@lethbridgeherald.com

City council on Tuesday unanimously gave second and third readings to a bylaw on tax prepayment, penalty and deferral.

Bylaw 6385 allows taxpayers who aren’t on the city’s tax instalment prepayment plan (TIPP) to be given a two per cent discount on prepayment of property taxes.

It also establishes a current and arrears penalty structure.

The bylaw is an annual one brought to council so administration can implement the prepayment incentive and arrears penalties starting on Jan. 1.

Current year penalties will stay at seven per cent on July 1 on outstanding tax balances and one per cent on the first of each month from August to December.

There is no change to the penalty rates for arrears.t

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