With the looming deadline for property tax payments approaching on December 31, the Ministry of Finance wants to ensure that you are well-prepared to fulfill your obligations. As the process of making payments, especially online, can sometimes be confusing, here are some key points to keep in mind:
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What you need to complete your payment:
- A valid property tax notice of assessment from the Inland Revenue Division.
- An online banking account with a participating bank.
The Ministry emphasizes the importance of having the notice of assessment before proceeding with the payment. The assessment date should be between July 15, 2024, and the present date. Once the payment is successfully made, a receipt will be sent via TTPost to the property owner, as indicated on the notice of assessment.
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You can pay on weekends:
According to the Ministry, payments made over the weekend will be processed on the next business day. -
You can make payments on behalf of someone using your online account:
It is possible to assist another individual in making their property tax payment. However, it is crucial to note that the receipt will be generated in the property owner’s name. -
Tips to note:
- The 10-digit PIN code can be found at the top right corner of the property tax notice of assessment.
- The media number is located at the bottom of the assessment, below the barcode.
- When making a payment through the bank’s platform, only enter your media number in the comment/description field.
- Prepayment restrictions:
- It is not possible to prepay property tax for future years. You must have a current and updated assessment form to proceed with the payment.
In conclusion, ensuring that you have all the necessary documents and information before making your property tax payment will streamline the process and avoid any unnecessary delays or complications. Remember, this is an important obligation that should be fulfilled on time to avoid any penalties or issues. By following these guidelines and tips, you can navigate the payment process smoothly and efficiently.
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