When signing the mortgage package your Ottawa mortgage broker will ask you how you would like to pay your property taxes. Here are three ways you can pay them.
Learn more: Ottawa mortgage broker
This is a very popular option and can be a convenient way to have the taxes paid. With one withdrawal from your bank account the lender will take your mortgage payment as well as a portion of the annual property taxes. The payments can align with your mortgage payment preference such as monthly, biweekly, weekly and so on.
You will still receive a tax bill however it should show that the taxes have been paid in full. This will assist in spacing the taxes out over the year and will be one less thing to remember.
There is no charge to do this. To set this up, you can contact the city and ask to set up a pre authorized payment or visit them online. The city will take the taxes monthly and will take 1/10th of the annual payment over 10 months, with a standard enrollment. Depending on your enrollment date, this payment amount can change.
Learn more: City of Ottawa property tax website
The last of the three ways you can pay your property taxes is to pay the bill as it comes. You can wait for the bill to come in the mail and pay it with your own funds. A bill usually comes twice per year, in January and June, and will be for one half of your annual tax amount.
Andrew Thake is a seasoned mortgage broker with over 15 years of industry experience. He’s assisted more than 2,200 clients in finding their ideal mortgage solutions. Recognized for his excellence, Andrew has received high honours and awards, including the National Rookie of the Year from TD Canada Trust and recognition as a Top 10 Ottawa Mortgage Broker in 2023. He has also been inducted into the Hall of Fame at Dominion Lending Centres and has consistently received their Platinum Award during his tenure as a mortgage broker.
Andrew’s dedication lies in serving his clients and prioritizing their needs with an empathetic approach. Throughout the application process, he provides tailored, informed, and efficient services to ensure the best mortgage solutions for his client’s unique circumstances. The best part of Andrew’s job is when he gets to see the joy on his clients’ faces following their mortgage approval.