About 44,000 Toronto property taxpayers who pay their taxes using pre-authorized payments saw an unexpected dip in their bank accounts Wednesday because of a banking error took out twice their March 1 tax installment. In total, $87 million in un-owed property taxes was withdrawn. But city officials say that by the end of the day the matter should be resolved. “If they checked their bank balance this morning they would have seen their bank account was less than they expected it to be but by the end of today customers will see their accounts reversed with a credit amount, that will bring the accounts back into balance,” said Casey Brendon, Toronto’s Director of Revenue Services. The error occurred between Toronto and its banking service provider, Royal Bank of Canada, said Brendon. “There were two files produced, and both were sent.” — InsideToronto Toronto News Release
