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Prepayment to save residents on tax bills

Lethbridge residents can save a bit of money on their 2023 property tax bill with prepayment, stating next month. Prepayments will be accepted in January and February and will go towards a discount when tax bills are issued in May.

“The discount will be equivalent to earning interest at two per cent per year from the date of payment starting in 2023 to June 30, 2023,” reads a news release from the city. “Prepayment amounts cannot exceed the total property tax bill for the preceding year.”

It adds the earlier payments are made, the more credit is applied to the tax account.

Residents on the tax installment prepayment plan already receive monthly discounts, according to the city.

Payments can be made online, at the bank, at city hall or by mail. The city is reminding residents city hall will be closed from Dec. 26 to Jan. 2 an will be open again on Jan. 3. Any payment made online, at the bank or sent by mail will be honoured as of the day it is made.

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