Tue, 23 Feb 2021
Recognizing the financial hardship that some property owners are experiencing due to the COVID-19 pandemic, Town Council approved a 2021 Property Tax Deferral program for eligible Oakville property owners.
The application-based program will allow residential and business property owners who are experiencing financial difficulties due to COVID-19 to apply to defer their property tax payments in 2021. As of January 1, 2021, all regular property tax billings, collections, application fees and charges have resumed to the normal schedule, including late payment charges. If eligible resident or business property owners experiencing financial hardship need more time to pay their property taxes, they can apply to the deferral program to have their payments deferred to December 15, 2021.
“The town recognizes this has been a difficult time for many of our taxpayers and we are doing what we can to alleviate some of the financial pressures some families and business owners are facing right now due to the pandemic. We want to support our property owners by deferring taxes for those who need it most,” said Mayor Rob Burton.
To be eligible for the 2021 Property Tax Deferral program, property owners will need to attest on the application a COVID-related reason for their financial hardship such as extreme revenue loss, loss of employment, business closure, prolonged suspension of pay, insolvency and/or bankruptcy. Additionally, eligible property owners cannot have any tax arrears (property tax debt) prior to March 1, 2020, and must pay taxes directly to the Town of Oakville and not through a mortgage company.
“In 2020, Council offered tax deferrals for residents and businesses who continue to experience financial difficulties. We learned that most tax payers continued to pay on time while some had difficulties,” said Nancy Sully, commissioner of Corporate Services. “With the December 15 deadline in place, eligible property owners can decide when and how to make their tax payments throughout the year.”
For those who are eligible for the program, the total taxes billed for 2021 would need to be paid by December 15, 2021. Applicants will still be able to make property tax payments at any time during the year against the balance of taxes owing depending on their own financial situation. It is the responsibility of the property owner to ensure their 2021 property taxes are paid in full by December 15.
If property owners owe taxes from 2020 or previous years, late payment fees will be applied to the balance until paid in full. Late payment charges on deferred 2021 taxes would not be applied until after December 15, 2021.
Online applications will be available later this week on the Due Dates, Payments and Late Charges page.
For more information read the 2021 COVID-19 Property Tax Assistance staff report – item 9 on the February 22, 2021 Council meeting agenda.