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What you need to know about the Tax Installment payment Plan (TIPP). It lets you pay your taxes monthly directly to the City of Calgary or any municipality or Municipal district (MD) in Calgary. Often this program works better than paying monthly to your mortgage lender as it is set for as long as you own your home. The alternative to monthly payments to the City, is to pay once a year. In Calgary, taxes are do on or before June 30th for any given tax year. Tax years run from January 1 to December 31 in any given year. When mortgage companies collect taxes, they collect monthly but send in payment once a year.

The Kahane Law Legal Minute is brought to you by Jeff Kahane of Kahane Law in Calgary, Canada. http://www.KahaneLaw.com/ (403) 225-8810

Kahane Law Legal Minute -Tax Installment Payment Plans

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WARNING: This presentation is for LEGAL INFORMATION ONLY. Laws will vary by jurisdiction. They also may change by legislation or court ruling. Each situation is different and no one rule applies to every situation so it is IMPORTANT for you to contact a lawyer to get legal advice specific to your situation.