Property owners who have fallen into property tax arrears may also have entered into ratepayer defined payment plans and pre-authorized payment plans.

Also consistent with previous tax billings, City Council established the following parameters as it relates to late payment charges

Property taxes are the primary source of revenue for municipalities to fund expenditures to provide services and as such collection is deemed an essential responsibility. From a cash flow perspective, where property taxes are not received, other sources of funds such as reserves and potentially lines of credit must be used to meet payment obligations.

As a result of the Covid-19 pandemic that we are currently facing there have been many requests for financial assistance and an identified need to provide property tax relief to property owners who are facing loss of income due to layoffs and temporary business closures. These taxpayers are in need of cash resources to address their immediate individual needs. It is important to recognize that Section 106 of the Act prohibits assistance to manufacturing, industrial or commercial enterprises through the granting of bonuses for that purpose. As such, Administration is recommending any short-term tax relief measures should be applied consistently to all taxpayers and all classes.

Administration has reviewed recent measures adopted by other Ontario municipalities and in conjunction with municipal finance groups has looked to best practices for shortterm relief. While property taxes cannot be waived indefinitely, Administration recommends the following property tax relief measures could be put into place on an interim basis.