What is property taxation?
A system of taxation that requires lessees, owners or occupiers of land and buildings to pay an amount of money based on the value of their land and buildings. Everyone who owns or occupies property, including individuals, businesses and industry pays property tax.
Property Tax:
Your property is taxed each year. The annual amount is the principal. If you do not pay your property tax in full, you will be charged interest on the outstanding amount. This interest is added to the total amount you owe (arrears).
Property Tax Arrears:
The PROPERTY ASSESSMENT AND TAXATION ACT states a taxing authority must, each year, prepare a tax arrears list.
https://www.justice.gov.nt.ca/…/property-assessment-and…
Property Tax Payment Plan:
The Town of Norman Wells offers the assessed owner the option of entering into an agreement to pay, on an instalment basis to all who are struggling to pay their property taxes in one payment.
**For more details on payment plans, please contact the Development Officer, 867-587-3700 or email developmentofficer@normanwells.com. Residents on payment plans are not considered to be in arrears and those names will not appears on the arrears list.**