THE CORPORATION OF THE VILLAGE OF MONTROSE
BYLAW # 545
A BYLAW TO ESTABLISH A TAX AND UTILITIES PREPAYMENT PLAN.
WHEREAS Part 11 of the Municipal Act (RSBC Chapter 323) authorizes the Council of the Village of Montrose to receive money for taxes before the due date and to provide terms for accepting and holding the money, including interest on it and its rate,
NOW THEREFORE, the Council of the Village of Montrose, in open meeting assembled, hereby ENACTS AS FOLLOWS:
1. (1) This Bylaw may be cited as the “TAX AND UTILITIES PREPAYMENT PLAN
2. (1) The Council hereby establishes a monthly preauthorized Tax and Utilities
Prepayment Plan (hereinafter referred to as “the Plan”) for taxpayers of the
(2) The Plan shall be renewable annually, and the plan cycle shall commence on July 1st of each year.
(3) The payment date for instalments under the Plan may be established by Council
resolution from time to time.
3. (1) Taxpayers may subscribe to the Plan by submitting an application in a form pre-
scribed by the Village from time to time.
(2) Monthly instalments payable under the terms of the Plan shall be determined in-
dividually for each participating taxpayer in the following manner:
(i) one twelfth of the last invoice property taxes, net of Home Owners Grant
(where applicable), plus
(ii) one twelfth of the last invoice utility user rates, plus
(iii) a percentage addition, to be determined from time to time, to compensate
for an anticipated increase in taxes and/or user fees.
(3) The schedule of Plan instalments shall consist of eleven (11) equal payments
calculated pursuant to this section and one (1) final instalment, being the outstanding balance remaining on the tax account at the time current taxes are invoiced.
4. (1) The Collector may accept a new subscription to the Plan at any time. Where the
Collector accepts a new subscription after the start of a Plan cycle, the number of instalments and amount of each instalments shall be calculated pursuant to the formula established in this Bylaw and in proportion to the number of months remaining in the current Plan cycle.
5. (1) The Collector may cancel the continued participation in the Plan by any taxpayer if two consecutive installments fail to be honored by a financial institution.
PAYMENTS AND INTEREST
6. (1) Payments under the Plan may be made by:
(i) preauthorized direct transfer to a Village account, or
(ii) postdated cheques deposited with the Village, or
(2) Monthly installments shall not be less than ten dollars ($10.00).
(3) Monthly instalments shall not be more than the amount determined by the formula
established in this Bylaw.
7. (1) The Collector shall establish a prepayment account for each participant in the Plan
for the purpose of accumulating all payments and all interest credits.
(2) The Collector shall draw from each participant’s prepayment account the amount
necessary to pay his/her utility user account in full prior to the date of invoicing user fees.
(3) The Collector shall draw the full balance of each participant’s prepayment account and apply that amount as a prepayment to the participant’s tax account immediately prior to the date of invoicing property taxes.
8. (1) Council shall, by policy, establish the interest rate payable under the Plan.
WITHDRAWAL FROM THE PLAN
9. (1) A participant may, for any reason and on written request to the Village, terminate participation in the Plan at any time.
(2) Where the Collector receives a written request of cancellation, the Collector shall
apply the full balance of the prepayment account to the tax account of the participant.
(1) Notwithstanding section 9(2) of this Bylaw, where a participant submits a written
request for termination on the grounds that the property has been sold, and proof is provided with the request that the sale is completed, the Collector shall refund to such participant the full balance of the prepayment account, including accrued interest.
11. (1) This Bylaw shall come into full force and effect on July 1, 1999
READ A FIRST TIME this 27th day of April, 1999
READ A SECOND TIME this 4th day of May, 1999
READ A THIRD TIME this 18th day of May, 1999
RECONSIDERED AND FINALLY ADOPTED this 1st day of June, 1999
Mayor Village Clerk
Certified a true copy of Bylaw #545, as adopted.
André Carrel, Village Clerk