Tax Instalment Prepayment Plan

Option 1: Monthly and balance plan

Up to 10 monthly prepayments are withdrawn from your bank account on the first day of each month from August through May (except February) and the greater of prepayment amount, or the balance withdrawal, each year on the second business day of: 

• February to pay the advance tax notice
• July to pay the main tax notice

 There's no withdrawal each year in June.

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  Instalment amount and interest

  Instalment amount

  To estimate the amount:

  1. Take the current year's tax levy.
  2. Subtract the home owner grant amount (if applicable).
  3. Subtract any payments and credits.
  4. Divide by the number of remaining instalments (maximum of 10 instalments).

  Interest

  You receive interest on your monthly payments that's credited to your tax account every month.

  The interest rate is either the current Bank of Canada prime business rate minus 3%, or 0.25%, whichever is higher.

  The rate is set twice per year before February 1 and August 1.

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  What you will need to do if you apply after August

  Enrolment after August will require your monthly instalments in the first year to increase.

  Since the prepayment amount is based on the prior year's property taxes, additional withdrawals on the due date may be necessary in February and/or July to cover any outstanding balances.

   Any credits will be used to reduce next year's instalments.

Option 2: Balance only plan

Balance only withdrawals are automatically debited from your bank account each year on the second business day of: 

• February to pay the advance tax notice
• July to pay the main tax notice

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  Payment amounts

  To estimate the February amount:

  1. Take the prior year's tax levy.
  2. Subtract the home owner grant amount (if applicable).
  3. Divide by two.
  4. Subtract any payments and credits.

  For the July amount:

  1. Take the current year’s tax levy.
  2. Subtract the February payment amount.
  3. Subtract any payments and credits.
  4. Subtract the home owner grant amount (if applicable).

Apply for the plan

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  Step 1: Make sure you qualify

  To qualify for the TIPP, you need to:

  1. Have a Canadian dollar chequing account at any Canadian bank
  2. Pay all outstanding taxes including the advance and main tax notices before submitting your application

   Contact a TIPP administrator or the Property Tax Department before submitting an application if:

  • The property is owned by a company, or 
  • Property taxes are paid by a mortgage company, or
  • Property taxes are paid through the provincial deferment program
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  Step 2: Print and sign the application form

  Download the application PDF file (280 KB)

  If you can't print the form, come in person to Revenue Services (see location on this page).

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  Step 3: Send your form and a void cheque

  Email, mail, or drop off:

  • Your completed and signed application form
  • A void cheque or a bank-stamped debit authorization form

  Note Send your application at least 30 days before the next prepayment date or balance withdrawal due date.

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  Step 4: Remember to claim your home owner grant every year

  Claim your home owner grant every year that you're eligible before the July due date to avoid a 5% penalty.

Change or cancel your prepayment plan

 TIPP instalments and earned interest are non-refundable and non-transferable. Any credit must be adjusted between buyer and seller through vendor statement of adjustments if property is being sold; otherwise any credit will remain on account to be applied towards property taxes. 

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  Step 1: Print and sign the amendment form

  If you want to:

  • Change your chequing account, instalment amount, or home owner grant eligibility
  • Sell your property
  • Cancel your TIPP

  Download the amendment form

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  Step 2: Send your form

  Email, mail, or drop off:

  • Your completed and signed amendment form
  • A personalized void cheque (if you change your chequing account)

  Note We need 30 days' notice to process your request.

  Email: TIPP@vancouver.ca

  Drop off

  Drop off your form at the City Hall W 12th Avenue (south) entrance mail slot, available 24 hours a day, 7 days a week. 

  Mailing address

  Revenue Services,
  City of Vancouver
  PO Box 7747
  Vancouver, BC V6B 8R1