Many of you have been receiving your property tax bills over the past few days, and most property taxes will be due on July 4th - 5th this year.
If you are eligible, please do not forget to apply for your Home Owner Grant! This must be done EVERY YEAR, and it is your responsibility to claim the grant. Banks DO NOT do this on your behalf.
If you pay your taxes through your Lender/with your mortgage, please make sure to forward a copy of the tax bill to your Lender/your servicing branch if it does not indicate "COPY SENT TO MORTGAGE LENDER" in the upper header section of the tax notice. This will assist in preventing any late tax payment penalties.
If this is your FIRST YEAR with your Lender, it would be a good idea to contact them at your earliest convenience to check on the payment status of your property taxes this year, and to let them know that you have applied for your Home Owner Grant.
Depending on when your new mortgage closed, you may be expected to make this year's property tax payment directly to your municipality, even if your lender collects regular property tax payments from you. For example, if your new mortgage closed after March 1st, 2022, some Lenders may not have had enough time to get you onto the full payment cycle for this year, and the payments that they have been collecting are actually for next year (2023).
The easiest and fastest way to pay your property taxes is with online banking or setting up a pre-authorized payment plan with City Hall directly. Please check your property tax bill or visit your municipality's website for more information.
Please do not hesitate to ask if you have any questions.
Have a great day!
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