Let me explain....
I moved into my condo January 4th and signed the paperwork to take ownership on January 26th. All utility bills were in my name as of the 4th and the property tax bill as of the 26th.
Almost 3 months after I moved into the condo, I've received ONE utility/tax bill. Enbridge (gas) is the only bill that I've received. Here is where the missing bills stand:
- Hydro Ottawa - first meter reading was performed on March 11th - bill has yet to arrive (on paper or online). No idea what my bill will be. My account online says that I spent $15.38 on hydro between January 4th and today.....sure my bill will be higher based on other fees/charges.
- Water Heater - apparently no one in the building has received their water heater bill. At least this one I know what to expect once the bill arrives....$50.79/month according to my lawyer when I closed.
- Property Taxes -Since MPAC has not yet assessed my property, I have no guess as to when this bill will arrive. In Toronto a new property's assessment can take years, I hope this is not the case here in Ottawa.
I've been setting aside $50/month for hydro and $50.79/month for the water heater in anticipation of the bills coming due.
My property tax payment of $80 semi-monthly is collected alongside my mortgage. According to the City of Ottawa's property tax estimator if my condo is assessed at $192,000 (about what I paid), my taxes will be $2,379/year. Currently I/my bank is saving $2,080 towards my taxes. Other condos in the area priced to sell within $10,000 of my condo have yearly taxes of $1,757 and $2,141. I have a savings account with ING where I am saving for extra mortgage payments....I will use this as a tax savings account as well.