On March 25, the Ontario government released an economic and fiscal update in lieu of a provincial budget. As part of that update, the province introduced a number of measures intended to lessen the economic impact of COVID-19.
One of those measures was the deferral of $1.8 billion in education property taxes for 90 days. This was done with the explicit purpose of allowing municipalities to provide property taxpayers with $1.8 billion in property tax deferrals.
OFA has been urging all municipalities to defer property taxes to help farmers and property owners manage through the COVID-19 crisis. At the same time, we realize that the decision to defer property taxes is a local decision that each municipality will need to make individually.
Municipalities have received this message and we are pleased to note that many of the municipalities have chosen to either defer property taxes or waive penalties and interest on unpaid property taxes.
It is important for members to check if their local municipalities have chosen to defer property tax payments or waive penalties and interest. It’s equally important to ask when property tax payments will be due and when penalty and interest for unpaid tax bills will resume.