Property Taxes: 2021 Interim Levy By-Law

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The decision

2020-11-25 · Toronto City Council · adopted

As filed

City Council on November 25 and 26, 2020, adopted the following: 1. City Council authorize that the 2021 interim levy for all property classes be based on 50 percent of the total 2020 taxes billed for each property, adjusted, as necessary, to reflect any additional taxes added to the previous year's taxes as a result of assessment added to the tax roll. 2. City Council authorize that the interim levy apply to assessments added to the tax roll for 2020 that were not on the assessment roll when the by-law was passed.

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3. City Council authorize that: a. the interim bill payment due dates for property tax accounts paid on the eleven (11) installment pre-authorized tax payment plan be: February 16, March 15, April 15, May 17 and June 15, 2021; b. the interim bill payment due date for the two (2) installment pre-authorized tax payment plan be March 1, 2021; and c. the interim bill payment due dates for all other property tax accounts on the regular instalment option or on the six (6) instalment pre-authorized tax payment plan be: March 1, April 1 and May 3, 2021. 4. City Council authorize the introduction of the necessary Bill in City Council on November 25 and 26, 2020, providing for the levy and collection of the 2021 interim taxes prior to the adoption of the estimates for 2021, which By-law, when enacted, will be effective as of January 1, 2021.

On the agenda

As the city filed it

This report requests Council authority to adopt the necessary by-law to levy interim property taxes for all property classes for 2021 and to prescribe applicable interim bill payment due dates. The 2021 interim levy will raise approximately $2.3 billion for City purposes, and will provide for the cash requirements of the City until such time as the 2021 Operating Budget and 2021 final property tax levy are approved by Council.

Staff recommended

The Controller recommends that: 1. City Council authorize that the 2021 interim levy for all property classes be based on 50 per cent of the total 2020 taxes billed for each property, adjusted, as necessary, to reflect any additional taxes added to the previous year's taxes as a result of assessment added to the tax roll. 2. City Council authorize that the interim levy apply to assessments added to the tax roll for 2020 that were not on the assessment roll when the by-law was passed.

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3. City Council authorize that: a. the interim bill payment due dates for property tax accounts paid on the eleven (11) installment pre-authorized tax payment plan be: February 16, March 15, April 15, May 17, and June 15, 2021; b. the interim bill payment due date for the two (2) installment pre-authorized tax payment plan be March 1, 2021; c. the interim bill payment due dates for all other property tax accounts on the regular instalment option or on the six (6) instalment pre-authorized tax payment plan be: March 1, April 1, and May 3, 2021. 4. City Council grant authority to introduce the necessary bill in Council on November 25 and 26, 2020, providing for the levy and collection of the 2021 interim taxes prior to the adoption of the estimates for 2021, which by-law, when enacted, will be effective as of January 1, 2021.

Considered

2020-11-18 · Executive Committee · adopted
Decision as filed
The Executive Committee recommends that: 1. City Council authorize that the 2021 interim levy for all property classes be based on 50 percent of the total 2020 taxes billed for each property, adjusted, as necessary, to reflect any additional taxes added to the previous year's taxes as a result of assessment added to the tax roll. 2. City Council authorize that the interim levy apply to assessments added to the tax roll for 2020 that were not on the assessment roll when the by-law was passed.
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3. City Council authorize that: a. the interim bill payment due dates for property tax accounts paid on the eleven (11) installment pre-authorized tax payment plan be: February 16, March 15, April 15, May 17 and June 15, 2021; b. the interim bill payment due date for the two (2) installment pre-authorized tax payment plan be March 1, 2021; and c. the interim bill payment due dates for all other property tax accounts on the regular instalment option or on the six (6) instalment pre-authorized tax payment plan be: March 1, April 1 and May 3, 2021. 4. City Council authorize the introduction of the necessary Bill in City Council on November 25 and 26, 2020, providing for the levy and collection of the 2021 interim taxes prior to the adoption of the estimates for 2021, which By-law, when enacted, will be effective as of January 1, 2021.
2020-11-25 · Toronto City Council · adopted

On the record

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