The Pre-Authorized Withdrawal Service (PAWS) is an optional prepayment plan which provides an opportunity for taxpayers to make equal monthly prepayments towards next year’s property taxes. Property Taxes are billed annually in May for property taxes for the current calendar year (January 1 to December 31).
As PAWS is a prepayment (or savings) plan for next years property taxes, the current year's property taxes must already be paid in full at the time of application and the applicant must have chequing privileges at a financial institution in Canada.
If your mortgage company is paying your property taxes or you have a property tax deferment through the Province of BC, this prepayment plan does not apply to you.
To apply, fill out the form below and email it to propertytax@lakecountry.bc.ca
Prepayments for PAWS will be debited on the 10th of each month or the first business day after.
Authorized prepayments start August 10 and continue to May 10, for a maximum of 10 consecutive automatic withdrawals. If you miss the August start date, you can still apply to participate in the plan. No prepayments will be withdrawn in the month of June or July.
Note: The difference between the current property taxes and prepayments is due on the first business day in July. The final payment for property taxes is the responsibility of the homeowner, it will not be withdrawn through this plan. A 10% penalty is applied to any property taxes not paid.
The amount of monthly prepayment can be calculated for you by estimating next year's taxes (net of the home owner grant , if eligible) and dividing it into a maximum of 10 equal payments. Otherwise if preferred, you can set the payment to an amount at or exceeding $20.00 to be withdrawn from your account.
You will be notified each year of your continued enrolment in the prepayment plan on your annual property tax notice and a letter will follow in July indicating the next year's re-calculated prepayment amount.
The withdrawals will continue each month until the plan is cancelled in writing.
Note: If any withdrawals are returned by the taxpayers bank (for any reason), the property tax account will be charged an admin fee of $25. The taxpayer's plan may be cancelled after 2 consecutive returned payments.
Interest is paid on the prepayment amount at 3% below the TD Bank prime rate and is tax free under Canada Revenue Agency regulations.
If you sell your property during the year, the prepaid taxes will stay with the property. You must cancel your participation in the plan or withdrawals will continue until cancellation is recieved.
It is your responsibility to ensure that your lawyer or notary conveys your prepaid property taxes as part of the property sale.
To cancel or change your PAWS plan, fill out the form below and email it to propertytax@lakecountry.bc.ca
This form must be received by the District at least 10 (ten) business days before the next scheduled withdrawal to ensure the cancellation or plan changes are processed.