Property Tax Prepayment Plan Application Form

Document Sample
Property Tax Prepayment Plan Application Form Powered By Docstoc
					                                                                                            City of Coquitlam
                                                                  Property Tax Prepayment Plan
                                                                               Application Form
                                                                                                3000 Guildford Way,
                                                                                              Coquitlam, BC V3B 7N2
                                                                                               Phone: 604-927-3050
                                                                                                  Fax: 604-927-3045
Applicant's Name:

Applicant’s Home #:                                                    Folio Number:

Applicant’s Work #:                                                    Estimated Gross Tax:

Property Address:                                                      Grant Amount:

Monthly Payment:                                                       Estimated Net Tax:

Grant to be claimed:       Yes             No                          Effective Date:

Date of Birth:

I/We hereby authorize the City of Coquitlam to withdraw a Pre-authorized amount from my/our account on the
1st of each month, from August to May of each year. Prepayments will continue until 15 days written notification
of cancellation has been received.

Tax prepayments may be accepted from persons other than the assessed owner, however, only the assessed
owner may request a refund of the balance remaining after issuance of the Property Tax Bill.

I/We will instruct the City to discontinue the Plan before the property is sold. It is your responsibility to ensure
that the conveyancing lawyer or notary provides you with a credit on your Statement of Adjustments. There will
be no refund of any prepayments prior to issuance of the Property Tax Bill.                     (initial of applicant)

I/We have read the reverse side of this application form.

Signature of Bank Account Holder(s)                                    Date

                                                                           New Application
Signature of Assessed Owner                                                Change Amount Only
(if different from account holder)                                         Change Account Number Only
                                                                           Cancel Applicant from Plan
Office Use Only
                                                                Date Entered                      Date Stamp
                                                                Clerk’s Initials                 Clerk’s Initials
Bank Number

Transit Number

Account Number
                                                                                             City of Coquitlam
                                                                   Pre-Authorized Payment Plan
1. It is the responsibility of the taxpayer to instruct the City to discontinue the Prepayment Plan before the
property is sold. This is important since we will continue to draw payments from your bank account until
advised. IMPORTANT: Any overpayment will be applied to the credit of the new owner.

2. CANCELLATION of the plan may be requested upon 15 days’ WRITTEN notice by either the taxpayer or the City.
As per Bylaw 2849 (1994), there will be no refund of any payments made prior to issuance of the Tax notices. The
City will continue to pay interest on the amounts paid prior to cancellation.

3. Any OUTSTANDING TAXES and UTILITIES must be paid prior to enrolling on the Plan. Taxes and Utilities must
remain up to date to continue on the plan in subsequent years.

4. PAYMENTS will be collected on the first day of each month from August of the current year to May of the year
in which taxes become due. Prepayment estimates are based on the previous year's taxes less estimated Home
Owner Grant, if applicable.

5. TAX STATEMENTS mailed in May will show total taxes levied, amount prepaid including interest and the
balance owing or the balance overpaid to the City.

6. DISHONORED TRANSFER fee is $25. Your Payment Plan will be terminated after two dishonored Electronic
Transfers within one year. The City may not provide notice of non-payment.

7. INTEREST will be paid at the prime lending rate of Scotiabank, in effect on the last day of the previous month,
less 3%.

8. You may ENROLL in the Prepayment Plan at anytime. Please indicate on line D the monthly amount that you
wish to pay. Your last installment will be May 1, of each year.

9. UTILITY CHARGES, are not included in this Pre-Payment Plan. Utilities are billed separately. Contact our tax
office at 604-927-3050 for information on our (Residential) Utility Installment Plan.

10. VOID PERSONALIZED CHEQUE must be attached to this application and returned to the City of Coquitlam by
the 15th of the month prior to your start date.


                                 Estimation of the Prepayment Amount
1.     Property taxes for current year                                                 (A)

2.     Subtract Home Owner Grant, if applicable:
       Basic Grant (under 65)              $570
       Basic and Additional Grant          $845                                        (B)

3.     Total (A) - (B) Prepayment Amount                                               (C)

4.     Divide (C) by number of months remaining to May 1
       or Amount per month that I wish to pay                                          (D)

                                                                                                                 Rev. Mar 2/06
                                                                                                                  Doc #406788