Property Tax Payment Deferral Program due to COVID-19 Impacts

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The decision

2020-05-28 · Toronto City Council · adopted

As filed

City Council on May 28, 2020, adopted the following: 1. City Council approve the property tax payment deferral program set out in the report (May 21, 2020) from the Chief Financial Officer and Treasurer to allow impacted residential and business property owners who have no other financial options to use an online application process to request additional time to pay their taxes without incurring late payment penalties or interest charges during the six month period between June 1, 2020 to November 30, 2020, and City Council delegate authority to the Controller and designates to administer the program based on the eligibility criteria set out in the report (May 21, 2020) from the Chief Financial Officer and Treasurer.

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2. City Council amend City of Toronto Municipal Code Chapter 767, Taxation, Property Tax, to implement the property tax payment deferral program set out in Part 1 above. 3. City Council authorize the introduction of the necessary Bills in Council to give effect to City Council's decision.

On the agenda

As the city filed it

This report recommends adoption of a property tax payment deferral program to allow residents and businesses who have no other financial options and are affected by the COVID-19 pandemic to request additional time to pay their property taxes without incurring late payment penalties or interest charges. This program will further assist business and residential property owners faced with severe financial difficulties due

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to the COVID-19 pandemic beyond the 60-day grace period for property taxes that was implemented by the Mayor's Economic Support and Recovery Task Force and approved by City Council.

Staff recommended

The Chief Financial Officer and Treasurer recommends that: 1. City Council approve the property tax payment deferral program set out in this report to allow impacted residential and business property owners who have no other financial options to use an online application process to request additional time to pay their taxes without incurring late payment penalties or interest charges during the six month period between June 1, 2020 to November 30, 2020, and delegate authority to the Controller and his designates to administer the program based on the eligibility criteria set out in this report.

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2. City Council authorize amendments to the City of Toronto Municipal Code Chapter 767, Taxation, Property Tax, to implement the property tax payment deferral program set out in Recommendation 1. 3. City Council authorize the introduction of the necessary bills in Council to give effect to Council's decision.

On the record

The item as the City filed it

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