Personal Finance

Property taxes deferral for cities

  • Last Updated:
  • Jun 8th, 2020 12:52 pm
Deal Guru
Feb 4, 2015
10254 posts
6623 upvotes
Canada, Eh!!

Property taxes deferral for cities

Many cities are waiving any fees [penalties, interest, etc.] and allowing to pay tax payments bit later. Search for your city online but few examples:

Toronto 60 days
Ottawa April 15 or even October 30
Vancouver 60 days [thanks @choclover]
Mississauga 90 days
Brampton 5 months [the deferral notice was Mar 21 but pmt 2 of 3 was due Mar 18 so that was sneaky to say 2 payments deferred; depending on how paid you may be able to get defer pmt 2]

Please add more as get news.

Mods: Please combine if already thread


Updated Thread Summary
Last edited by georvu on Mar 23rd, 2020 6:50 pm, edited 1 time in total.
2022/3: BOC raised 10 times and MCAP raised its prime next day.
2017,2018: BOC raised rates 5 times and MCAP raised its prime next day each time.
2020: BOC dropped rates 3 times and MCAP waited to drop its prime to include all 3 drops.
Thread Summary
City of Montreal property taxes due June 1, 2020 has been changed to Sept 1, 2020 [thanks @hellohello]

Toronto 60 days
[Additional up to 6 months but must apply, see Post # 78 for details] [thanks @9thGenCivicSi]

Ottawa April 15 or even October 30

Vancouver 60 days [thanks @choclover]

Mississauga 90 days

Brampton 5 months

Pickering Tax Penalties to be Waived for 60 days [thanks @radudu]

Longueuil: [thanks @hellohello]
2nd instalment: now Wednesday, May 6, 2020
3rd instalment: now Monday, July 6, 2020
4th instalment: now Tuesday, September 8, 2020

Markham/Richmond Hill: Extended relief for Markham residents and businesses until December 31, 2020

Oakville: Pay without penalty until June 30, 2020

East Gwillimbury: July 31, 2020

Winnipeg: 3 month penalty free deferral. Penalty after 30 Sep (instead of original 30 Jun).
[thanks @Mr Bean}
94 replies
Deal Guru
Feb 4, 2015
10254 posts
6623 upvotes
Canada, Eh!!
Not sure why italics... did not post that way.
And this does not show in post for some reason "I only saw Vancouver and have given credit above"
2022/3: BOC raised 10 times and MCAP raised its prime next day.
2017,2018: BOC raised rates 5 times and MCAP raised its prime next day each time.
2020: BOC dropped rates 3 times and MCAP waited to drop its prime to include all 3 drops.
Deal Guru
Feb 4, 2015
10254 posts
6623 upvotes
Canada, Eh!!
hockeyfan1990 wrote: Too bad I already paid it :/
Yeah the timing seems to be more publicity oriented for some cities rather then actual caring
2022/3: BOC raised 10 times and MCAP raised its prime next day.
2017,2018: BOC raised rates 5 times and MCAP raised its prime next day each time.
2020: BOC dropped rates 3 times and MCAP waited to drop its prime to include all 3 drops.
Deal Fanatic
Oct 7, 2007
9401 posts
5364 upvotes
While I welcome the gesture, I really don't want to see VANCOUVER use this as yet another excuse to CRANK our taxes again next year. We always pay more than market for what they "give" us.
Banned
User avatar
Jul 17, 2008
11042 posts
3878 upvotes
choclover wrote: While I welcome the gesture, I really don't want to see VANCOUVER use this as yet another excuse to CRANK our taxes again next year. We always pay more than market for what they "give" us.
Do you? What is your property assessment and do you pay more than 4200? I pay that much and I'm assessed under 500k
Deal Fanatic
User avatar
Mar 28, 2005
8941 posts
2561 upvotes
Cornwall, Ontario
choclover wrote: While I welcome the gesture, I really don't want to see VANCOUVER use this as yet another excuse to CRANK our taxes again next year.
Deferring property taxes cost cities real money, has to be made up somehow.
Deal Fanatic
Apr 5, 2016
6116 posts
4613 upvotes
Calgary/Vancouver
choclover wrote: While I welcome the gesture, I really don't want to see VANCOUVER use this as yet another excuse to CRANK our taxes again next year. We always pay more than market for what they "give" us.
You can't be serious. Vancouver property taxes have been the least expensive out of all major cities in NA. You're paying less than half of what someone from Toronto is paying.
Deal Guru
Aug 5, 2006
10731 posts
7891 upvotes
Global Village
So the Toronto tax interim installments due April 1 and May 1 can both be deferred for 60 days without penalty. More details below:

For Individuals and Families
Property Tax Payments
Provide a grace period of 60 days for properties on the regular 3-instalment payment plan, no further instalment payments will be required until June 1, 2020.

The new instalment structure for those on the regular instalment plan (2020 Final Tax bills will be sent out in May 2020) is:

March 1, 2020: Interim Billing instalment #1 due
April 1, 2020: No instalment due
May 1, 2020: No instalment due
June 1, 2020: Interim Billing instalment #2 due
July 2, 2020: Interim Billing instalment #3 due

August 4, 2020: Final Billing instalment #1 due
September 1, 2020: Final Billing instalment #2 due
October 1, 2020: Final Billing instalment #3 due
For property owners on the 11-instalment pre-authorized payment plan, Interim 2020 instalment due dates will be extended by 60 days. Customers will be advised of revised instalment amounts and withdrawal dates for the Final 2020 bill.

Late payment penalties will be waived for 60 days, starting March 16, 2020 to reflect these relief measures.

https://www.toronto.ca/home/covid-19/ec ... -recovery/

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Jr. Member
Jan 24, 2018
116 posts
73 upvotes
what good does 60 days deferral do when this pandemic or city lock down will go on for 2 months or longer? the next property tax payment is coming right up and you will have to pay both payments at very close deadlines
Deal Addict
User avatar
Mar 9, 2012
4100 posts
2979 upvotes
Kitchener
bomber17 wrote: You can't be serious. Vancouver property taxes have been the least expensive out of all major cities in NA. You're paying less than half of what someone from Toronto is paying.
Yes, but Toronto's mill rate is also low compared to the ROC, probably about 1/2 to the rest of Ontario.
Why can't we all just get along?
Banned
Nov 17, 2014
942 posts
763 upvotes
Ontario
Do this even help people really? You're going to require the same amount of income pay for everything in the end. The lost income isn't going to comeback but the bills are going to cost the same. I guess you could get a 2nd job or work overtime or something...
Deal Fanatic
Jan 15, 2017
5735 posts
6101 upvotes
Ottawa
Copper1212 wrote: Do this even help people really? You're going to require the same amount of income pay for everything in the end. The lost income isn't going to comeback but the bills are going to cost the same. I guess you could get a 2nd job or work overtime or something...
It provides a little breathing room. I agree with you that the lost income for most will not come back and everyone jumping on the deferral bandwagon needs to understand that they are increasing their overall debt loads. For some, it may be significantly increasing that debt load.
Deal Fanatic
Oct 7, 2007
9401 posts
5364 upvotes
bomber17 wrote: You can't be serious. Vancouver property taxes have been the least expensive out of all major cities in NA. You're paying less than half of what someone from Toronto is paying.
Absolutely false! As someone who pays Vancouver property taxes for a very humble home, this is absolutely not true. You can distort statistics to make any argument but I am talking about ABSOLUTE dollars for the same type of dwelling across Canada and probably most of North America. There are lots of people with all kinds of degrees that have gone to great lengths to illustrate this point so I am not going to do this here. Personally, I don't think most people from Toronto would accept Vancouver tax levels for their homes nor have they experienced the insane increases we have seen every year. Their council could never pull it off and people would be so outraged that they would shut the whole city down with protests.
Deal Fanatic
Oct 7, 2007
9401 posts
5364 upvotes
Copper1212 wrote: Do this even help people really? You're going to require the same amount of income pay for everything in the end. The lost income isn't going to comeback but the bills are going to cost the same. I guess you could get a 2nd job or work overtime or something...
You are right. I think most people need to prioritize their liquidity at a time like this and use the extensions to pay the first bills that are due first. I also think it is a good time to look at our household budgets and cut out most if not all discretionary spending. We might not get this kind of grace forever as the city workers are probably getting full salary even if they are not showing up for work and we have to pay for that even if we as non-city workers don't get full pay (or any pay) during this time. Remember that some people don't qualify for any assistance during this time. Not everyone is getting paid.
Deal Fanatic
Dec 12, 2009
6134 posts
3607 upvotes
Toronto
scoper wrote: Toronto tax ... More details below:

For property owners on the 11-instalment pre-authorized payment plan, Interim 2020 instalment due dates will be extended by 60 days. Customers will be advised of revised instalment amounts and withdrawal dates for the Final 2020 bill.

https://www.toronto.ca/home/covid-19/ec ... -recovery/
ggster wrote: what good does 60 days deferral do when this pandemic or city lock down will go on for 2 months or longer? the next property tax payment is coming right up and you will have to pay both payments at very close deadlines
I have to agree with @ggster when you look at the link to the Toronto site above it says:
The City will be suspending any pending automated withdrawals that have been scheduled within the next 60-day period but not yet withdrawn.
I think that any financial help should be optional & not automatic. People understand their own financial situation better than a politician waving a magic wand while saying we are nice guys.

Though the politicians are well meaning with the deferrals, their actions will create larger bills occurring over a shorter period of time.
We should have the option of being able to flatten our own financial expenditures curve.
Sr. Member
Mar 25, 2002
698 posts
132 upvotes
Probably not a popular take here, but if you have not been financially impacted by Covid -19 everyone should pay their property taxes on time.

This is geared towards individuals/families with lost income now.
Deal Fanatic
Oct 7, 2007
9401 posts
5364 upvotes
zeroburn wrote: Probably not a popular take here, but if you have not been financially impacted by Covid -19 everyone should pay their property taxes on time.

This is geared towards individuals/families with lost income now.
I think this is fair. After all, postponing payments does not make things any easier for a lot of people but might actually lead to financial crunches in the future if people are unable to manage their finances properly. Any interest earned on delaying the timing of payments is zero or next to nothing.
Member
Jan 29, 2015
217 posts
181 upvotes
Man if anything property taxes should be lowered a bit due certain public services being shut down.
Deal Fanatic
Jun 24, 2015
8483 posts
2926 upvotes
0 downvotes
well i paid off my property tax in full last month, oh well better to be paid off than in debit
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