Tax Installment Payment Plan

The Tax Installment Payment Plan (TIPPS) gives Cold Lake property owners the convenience of paying their municipal taxes in equal monthly payments, as opposed to a lump sum. TIPPS payments are automatically withdrawn from the property owner's bank account on the 15th of each month.  

There is no deadline to register for the TIPPS program. Applications can be made at any time of year. If approved, the remaining balance will be divided into equal monthly payments. The monthly payment amount may be adjusted when the current year's taxes are levied, to ensure the account is at a zero balance at year end.

Important to note:

• There are no registration or service fees to participate in the TIPPS program.
• Payments are withdrawn on the 15th day of each month in the amount of 1/12 the previous year’s taxes (or equal monthly payments for homeowners who register part way through the year). Because property taxes are levied in May, new participants in the TIPPS program may have an outstanding balance for the first few months of the year. This balance can be paid as a lump sum based on the current year's taxes (or estimated taxes), or the amount can be divided among the remaining months of the year and added to the monthly payment amount.

• The City of Cold Lake may cancel a property owner's participation in the TIPPS program after two consecutive returned or NSF payments. Any unpaid balance will then be subject to penalties.
• Property owners may cancel their participation in the TIPPS program at any time by providing at least 10 (ten) business days notice before the next scheduled payment date.

(Or pick up a paper copy from City Hall during regular business hours).

For questions about the TIPPS program or to speak to a representative from the Tax department, email taxes@coldlake.com or call 780-594-4494.