Government Assistance: Property Tax

Property tax is payable on July 2nd generally, however certain Municipalities have or are proposing to extend payment dates. These vary daily, hence a taxpayer should visit the municipal web site for the specific date.

Class (4) (5) (6) (7) & (8) – Tax reduction

  • The school property tax rate for commercial properties reduced to achieve an average 25% reduction in the total property tax bill for most businesses

Class (4) (5) (6) (7) & (8) – Penalties for late payment

  • No penalty until October 1st, 2020, then 5% to December 31st, 2020
  • This could represent a charge equivalent to 20% per annum, 
  • If the 2020 taxes are not paid by December 31st, 2020 then a further penalty on January 1st, 2021 will be levied

Class (1) Residential Tax

Class 1 does not get any form of tax relief. The government says there are some deferral opportunities already available.

Additional school tax

Urban Development Institute are discussing a relief for developers, but no success to date.

Assessment Appeal Deadline

This has been extended to June 1st, 2020.

Peter Austin,BSc. AACI, Carb