There are two possible answers to your question, depending on whether or not you’ve signed up for the Equalized Payments Plan (EPP).
If you have EPP, you may have a balance payable from the previous year. Following an annual review of your account, this balance (with no additional fees) is spread over your next 12 monthly installments. You can also choose to pay the balance in full. The amount is indicated in the Status of your account section on your bill, under the heading “Amount due, not payable immediately.”
If you haven’t signed up for the EPP, you must pay the balance on your account by the due date. Any delay in payment will result in administration charges, calculated at a monthly rate of 1.2% (14.4% per year), from the billing date. You may pay your balance at any time prior to the due date.