Jeffrey Kahane speaks on 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.
Jeffrey Kahane from Kahane Law Office Barristers & Solicitors