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TAXES

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About Taxation

 

General Property Taxation is the single most important source of revenue for local governments. The municipal tax rate, together with the assessed value and classification (property use – i.e., residential, commercial, industry, etc.) of the taxable property, determines the taxation for each property.

The Assessed Value of a property is determined by Municipal Assessment Agency (MAA).  MAA is a provincial Crown corporation, governed by a Board of Directors that provides municipalities in the province with property assessment services. 

Property tax invoices are generated and mailed out, usually the first couple of weeks in January. The due date for property tax payments is subject to change on an annual basis, historically the date has been set as June 30.  Any outstanding tax balance after this date will be subject to monthly interest penalties. 

Tax Calculation

The municipality sets the mill rate annually and applies this rate to the assessed value.

 

 

 

 

 

 

What is a mill rate?

The mill rate is the amount of tax payable per dollar of the assessed value of a property. The mill rate is based on "mills." It is a figure that represents the amount per $1,000 of the assessed value of the property, which is used to calculate the amount of property tax.

 

Example:

123 Main Street, Town of Bay Bulls

Assessed Value of $100,000

Mill Rate for 2024 is 5.0

Calculation:

$100,000 X 0.005 = $500.00

Early Payment Discount

The Town of Bay Bulls offers a 12% early payment discount to all residential property tax payers that pay their tax bill in full on or before May 31. The 12% discount does not show on the tax bill, account holders must calculate the discount prior to forwarding payment.  For up-to-date account totals please dial 1-709-334-3454 to speak with a staff member. 

Bill Payment Options

Pay by Email Money Transfer (EMT)

The Town of Bay Bulls now accepts EMT as a form of bill payment.  In order to take advantage of this option account holders will need their invoice number (######).  When setting up the EMT, please make sure to send the transfer to info@townofbaybulls.com and quote the invoice number in the memo section of the transfer.

 

Pay by Phone with a Credit Card

The Town of Bay Bulls will accept payments over the phone with select credit cards. Please have the invoice number ready when you dial in to make a payment. Account holders wishing to use this form of bill payment can dial 1-709-334-3454 to speak with a staff member.

In Person

  • 2 Southside Road, Bay Bulls, NL

  • Accepted methods: Cheque, Money Order, Interac, or Cash

By Mail

  • Accepted methods: Cheque or Money Order.

 

Made payable to:

Town of Bay Bulls

PO Box 70

Bay Bulls, NL

A0A 1C0

If you have taxes owing:

Apply for the Interest Free Payment Plan 

Receiving your Tax Bills

Failure to receive a property tax bill does not mean a payment is not required.  Account holders are responsible for any amount the comes due and any interest charged on these amounts. 

Any changes to an account holders mailing address must be communicated with the Town office to ensure the tax roll database is up to date. Change of Address Form

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