The Tax Installment Payment Plan (TIPP) is an efficient program which allows you to pay your property taxes on a monthly basis instead of one annual payment. Your payment automatically comes out of your bank account on the last day of every month and if this day falls on a weekend, the payment will be taken out on the following work day.
How does TIPP work?
Each year property taxes are billed in May but cover the period from January 1st to December 31st. If you take advantage of the TIPP programs you don't need to worry about the payment deadline or late payment penalties. Your taxes are spread over 12 months, starting in January, with the account being paid in full after your December installment. TIPP automatically continues from year to year, or until you chose to discontinue the payment schedule.
Your monthly payment amount is calculated by dividing your most recent annual tax levy by twelve (12). This account is paid through automated withdrawals from your back account each month.
When you receive your annual combined Tax and Assessment notice in May your monthly payment will be adjusted to reflect the actual tax levy and the credit-to-date will be subtracted from the tax levy. This balance will then be divided by months remaining on the current year, ensuring your account is paid in full by year end.
You can join the plan anytime, providing your tax account is in good standings.
Your combined Tax and Assessment notice will show:
- The TIPP credit-to-date.
- The new monthly payment amount for the remainder of the year.
If you are interested in participating in the TIPP's program or require additional information, please contact the County office at 403-845-4444.