NOTE: If there is a credit balance in your Tax Prepayment Account when the property is sold, please ensure that the conveyancing lawyer or notary provides you with a full credit on your statement of adjustments. If this is not done and a refund is required or requested an administration fee of the lesser of 10% or $25.00 will be deducted from the refund and you will receive interest up until the end of the previous month.
Please avoid this administration charge by ensuring your conveyancing lawyer includes your installment balance into your statement of adjustments (or instructs the City to transfer your credit balance to your new property).