When you are enrolled in the Property Tax Prepayment Plan, you are essentially "prepaying" your property taxes in advance as opposed to one lump sum when property taxes are due.
Your prepayments will be shown on your Property Tax Notice as a credit beside Installments near the bottom above the Home Owner Grant.
Being that your prepayment amount is only an estimate, it is possible that there could be a balance owing. You are still responsible for paying any property tax amount outstanding. THIS AMOUNT WILL NOT BE WITHDRAWN FROM YOUR BANK ACCOUNT. Should this occur, it will be clearly stated on your Property Tax Notice and shown as a debit amount.
Should a balance remain on your Property Tax Account, you may be withdrawn from the Property Tax Prepayment Plan, as stated on the initial application.
If the amount stated in your applicable column is in brackets, this means you have a credit on your property tax account and you need not pay this. See below for more information on credits.
Please Note: You are also responsible for claiming the Home Owner Grant (if eligible) by the property tax due date to avoid any penalties or charges.
Credit balances will automatically be applied to next year’s prepayment plan. The new estimated prepayment amount will then be printed on the bottom of your Property Tax Notice.
Unless otherwise requested, your prepayment amount will automatically be recalculated and will be stated on your Property Tax Notice. See Calculating Your Prepayment for more information.