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MI CUENTA

Payment Plan

 

Is there a mechanism to establish a payment plan for the property tax imposed and owed?

The taxpayer with difficulty paying their property tax debt, whether real or personal, can request an installment plan. The same should be to cover the amount of tax due, excluding the current year debt. The approval of a payment plan and compliance with it avoids a lien process and the subsequently sale of the debt at a public auction.

¿What are the consequences of not complying with a payment plan established?

A payment plan can be canceled in cases where it occurs the return of a check by the bank, arrears of monthly payments and stop paying the debts established for current years. If a payment plan is canceled, the taxpayer may be subject to a foreclosure of property, as part of a collection process of arrears. Another payment plan won’t be granted unless a bond is presented.

What are the requirements and procedures to be performed with the CRIM to establish a payment plan for arrears?

File a payment plan application form in the Taxpayer Service Area of a CRIM’s Regional Centre.

Conditions and requirements to qualify for a payment plan:
  1. Debts established for the current year will be excluded from the payment plan.
  2. Submit the payment plan application form indicating your intention to maintain your contributions to the day.
  3. A payment plan approval form will be filed.
  4. Submit a copy of financial statements; if you don’t have them, file form BC-46 or BC-46A.
  5. Once approved the payment plan, you have to pay the down payment with a certified manager’s check or money order on behalf of the CRIM.
  6. Make the correspondent payments on the 1st of each month.
  7. Must submit a deposit from an Insurance Company, to secure the debt. The use of a real property as collateral (submitting a copy of the deed and the registration certificate of the property), it must be approved by the Executive Director.
  8. Keep the current and next year’s debt on time.
Reasons for the cancellation of a payment plan:
  1. Returned check.
  2. Monthly arrears.
  3. Leave debts from previous years uncovered.
  4. The guarantee offered will be executed for all payment plan deemed cancelled.