Prepayment Program

Prepayment Program

The City of Vernon offers a plan for you to pay next year’s property taxes in instalments by automatic monthly withdrawal from your bank account.

• How do I apply?

  Applications for the program can be made at any time. Due to payment processing in progress, applications submitted between the 10th and 15th of the month will not be processed until the following period. Applications submitted between May 10th and July 10th will be processed for the first payment of the following tax year installment cycle: August 15th. 

  1. Download the application form and fill it out.
  2. Attach a “VOID” cheque
  3. Send to covdata@vernon.ca
• How do I change or stop Preauthorized Payments?

  In selling your property, you or your lawyer MUST terminate the Property Tax Pre-authorized Payment Plan by providing written authorization to the City Finance Department before the 10th of the month, in order to stop the withdrawal on the 15th.

  1. Open the prepayment plan change/cancelation form
  2. Send to covdata@vernon.ca
• How much will my first payment be?

  Your payment amount will depend on: prior year tax levy, homeowner grant eligibility, current account balance, and the number of payments remaining in the cycle. Monthly prepayment amounts are calculated well before tax rates are determined, the final July payment will capture any increases or decreases in tax levy.

• How much will my July 2 payment be?

  The due date payment may differ from your monthly payment amount. The due date withdrawal is equal to the total outstanding balance on the tax account and is listed on the tax notice issued in May. Account activity that occurs after the May payment, such as a returned payment, or an extra payment made, will change the July 2 withdrawal amount.

• I am a prepayment customer, what do I need to do when I receive my tax notice?

  If eligible, claim your homeowner grant directly with the province as soon as you receive your tax notice.
  Ensure sufficient funds are in the account for the July 2 withdrawal.

• Additional Information

  Prepayment to tax accounts earn interest that is applied to the tax account as a credit towards net tax payable.
  Refund requests of prepayments will not be approved, overpayments after the due date are automatically returned to your bank account by direct deposit mid-July.

Resources

• Property Tax Estimator Results