education property tax deferrals introduced in Ontario and Alberta

ON/AB: education property tax relief introduced

Thursday, March 26, 2020

Alberta and Ontario are offering ratepayers temporary relief from the education portion of property tax bills. Earlier this week, Alberta municipalities were instructed to adopt education property tax rates as per usual, but to defer collection for six months, while the Ontario government has extended the deadline for municipalities to submit moneys owing to school boards until September 30, 2020.

“Deferring the June 30 quarterly remittance to school boards by 90 days will provide municipalities with the flexibility to, in turn, provide over $1.8 billion in property tax deferrals to residents and businesses,” states the newly released Ontario economic and fiscal update. “To ensure this does not have a financial impact on school boards, the Province will adjust payments to school boards to offset the deferral.”

In Alberta, the six-month deferral applies to an estimated $458 million in non-residential taxes owing. However, businesses that can pay now are urged to do so.

“The government encourages commercial landlords to pass on these savings to their tenants through reduced or deferred payments,” a statement from Alberta Treasury Board and Ministry of Finance submits. “This will help employers continue to manage their debts, pay their employees and stay in business.”

Leave a Reply

Your email address will not be published. Required fields are marked *