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TOWN OF BERWICK
POLICY STATEMENT
Page 1 of 1
Policy # 5.011
TAX BILLING POLICY
Effective Date:
13 March 2002
Revision Date:
9 April 2002
Purpose
To provide timeframes for issuing interim and final property, business
occupancy and sewer tax billings and payment due dates for the residents
and businesses of the Town of Berwick.
Objective
The objectives of the Tax Billing Policy will be to:
1. authorize staff to issue interim and final tax bills on annual basis;
2. provide the dates tax bills are to be issued twice a year and the due
dates for each tax billing; and
3. to determine the amount of interim tax bills based on current year
assessments
Policy
It shall be the policy of the Town of Berwick to issue two property tax
billings per year, an Interim billing in April and a Final billing in
September. The bills shall be issued to ensure that rate payers have a
minimum of 30 days to provide payment.
Interim Tax Billing
Interim tax bills shall mailed no later than April 15th with a due date of
May 31st or the first business day thereafter. The amount of the Interim bill
shall be calculated using the current year's assessment and an interim tax
rate that approximates half of the estimated annual tax bill.
Final Tax Billing
The Final tax bill shall be mailed no later than September 15th with a due
date of October 31st or the first business day thereafter. The amount of the
Final bill shall be calculated based on the current year's assessment and the
tax rates as approved by Council for that year. The Final bill shall also
include, where applicable, any outstanding principal and interest charges as
well as payments made since the interim bill for that year.
Interest Rate
On an annual basis, Council shall set the interest rate to be charged on
overdue tax accounts. Interest will be calculated on a compound basis and
charged to the taxpayer's account on the first business day of each month
the account has an outstanding balance.
NOTES:
Authority: Council
C.A.O.
Ref. Form:
Date: 12 March 2002