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Paying Property Taxes

Paying Property Taxes: There are 3 ways this can be done:

  1.  You’ve been paying them with your mortgage payment and then the lender will remit the payment directly. Your property tax payment can change through-out your term as taxes do change and the lender wants to make sure you have enough in there. If you ever want to know how much you have in your property tax account call your lender and they will be able to give you the number. If you have a high ratio mortgage most lenders require the taxes be added onto the mortgage payment.
  2. Write a cheque for the due date and pay July 2nd. at the city or most chartered banks. We’ve always done this but it will be our last year doing so, we said we would open a separate account and have enough in this account but it seems a new renovation project always comes up and the money gets used elsewhere so we will be doing #3 as our option.
  3. Pay the city monthly on a preauthorized debit, this is the one I’ve chosen for the coming year.

Here are the links to Vancouver and Surrey property tax sites. To find other communities, go to the main Government website and look for property taxes.