Okotoks property owners and businesses will be given a penalty-free grace period to pay their property taxes this year.

In response to the COVID-19 pandemic, Okotoks town council passed Bylaw 22-20 to permit Okotoks taxpayers the option to defer payments on their 2020 taxes without penalty, until August 31, 2020.

"Council recognizes that the COVID-19 pandemic has placed financial constraints on many Okotoks taxpayers and in order to provide financial relief, this bylaw will permit all taxpayers, residential and non-residential, the option to defer their taxes," said Mayor Bill Robertson.

The bylaw allows Okotoks property owners and businesses the option to choose whether to defer their full tax bill or the July and August 2020 current tax TIPP payments, without a penalty until August 31, 2020.

No penalties will be charged until September 1, 2020, on current 2020 taxes. After August 31 unpaid taxes will receive a penalty equal to 4 percent as of September 1, 2020, 4.5 percent as of October 1, 2020; 5 percent as of November 1, 2020, and 1.5 percent as of December 1, 2020.

Taxpayers who participate in the TIPP program have the option to defer their pre-authorized TIPP withdrawals for July and August. The Town will automatically reinstate TIPP payments on September 1 and the deferred withdrawals will be spread out evenly over the last four monthly payments from September to December.

In March of 2020, the Government of Alberta announced a six-month deferral on the non-residential education requisition amount on property tax bills. After consulting with other municipalities, it was identified that this would complicate tax collection, require municipalities to issue multiple bills, and lead to confusion. To correct this, municipalities were given the option of collecting the non-residential education property tax for businesses for six months or deferring both the municipal and education property tax for a shorter period, which provides an equivalent benefit.

Property tax notices will be mailed on May 25 and are due on June 30, 2020.

Property owners and businesses are asked to continue to pay their taxes and honor the normal due date of June 30 if possible, in order to ensure the municipality can continue to deliver the essential and vital services during these challenging times.

 

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