Town of Ponoka offers monthly tax payment option

Ponoka town council has approved changes to the Town’s monthly tax payment plan that aim to make it easier for citizens to sign up at any point throughout the year.

The monthly tax payment plan is also known as the Tax Installment Payment Plan (TIPP). With the new changes, citizens who sign up for the monthly payment plan after January 1 will no longer have to pay a lump sum for any missed monthly installments for that calendar year when joining the program. Their annual property tax bill can now simply be equally distributed over the remaining months of the year when they sign up.

For example, a property owner whose taxes are $2,400 and who signs up for the program on March 10, would have the option of paying $266.67/month starting April 1. Under the old program, that person would have had to pay a $600 lump sum to cover missed monthly payments from January to March, and then start monthly payments of $200 on April 1.

“Both of those payment options are now available to residents who sign up for monthly tax payments,” said Sandra Lund, Chief Administrative Officer for the Town of Ponoka, in a press release. “The goal of the monthly tax payment plan is to help citizens avoid going into arrears on their property taxes. Having the option to pay your property taxes in monthly payments instead of one lump sum each year makes it easier for many citizens not to fall behind on their payments.”