Homeowners and other residential property owners will have a 60-day grace period on their City of Toronto property tax, Toronto Water, and Solid Waste bills as of March 16, 2020.
A 30-day grace period for businesses on tax and utility bill payments introduced earlier this week is being extended to a 60-day grace period as well.
Late payment penalties for residential and business properties will be waived for 60 days, starting March 16, 2020 to reflect these relief measures.
Utility bills (water and solid waste), are normally due 21 days after the billing date, but the City will extend that date an extra 60 days.
This will ensure that residents and businesses who find themselves facing financial hardship due to COVID-19 can defer their next property tax instalment without penalty. Property tax accounts will be adjusted as necessary to reflect these relief measures.
On Monday, the Mayor's Economic Support and Recovery Task Force was launched to identify immediate and longer-term economic recovery strategies for residents and businesses, with a focus on supporting those segments of the economy that are most strongly impacted by COVID-19, such as tourism, hospitality and entertainment.
The Mayor will also continue to advocate for renters in the wake of the pandemic. He has been continuously calling on landlords to provide accommodation and leniency to renters because it's the right thing to do at this time. Mayor Tory has also publicly asked landlords to offer accommodation to small business on at least the timing of rent payments in light of the severe cash flow difficulties many of those businesses will be facing.
To further demonstrate his commitment to renters the Mayor will be hosting a teleconference on Monday with various residential landlords across the city as part of the Task Force's ongoing work.
On this call the Mayor will continue to call on landlords to be accommodating to tenants with cash flow issues and find solutions on how the City can work with landlords during the COVID-19 pandemic.
QUOTES:
"The COVID-19 pandemic has turned people's lives upside down overnight. We know families are struggling to figure out how to make ends meet while also worrying about their health and the health of their loved ones. Toronto businesses and residents need to know that we understand these are extraordinary circumstances and we are here to support them. The immediate grace period announced today will give people relief as we all work to rebuild the economy. We will continue to find ways to offer extraordinary help in these extraordinary circumstances."
- Mayor John Tory
"We are doing what we can as a City government right away to help residents and businesses across the City. Just as I know many households and businesses are reviewing their finances in the wake of COVID-19, we are continuing to review the City's finances to fully understand its impact on our operations and revenues. While we know there will be a financial impact to the City, we are moving now and in the coming weeks to do what we can to help our residents."
- Budget Chief Gary Crawford (Councillor, Ward 20 Scarborough Southwest)
