Council defers property taxes two months in COVID19 Economic Action Plan

A two-month property tax deferral has been enacted by Oakville.

At a specially-called meeting Thursday, Town Council approved an Economic Action Plan developed by the newly formed Economic Task Force, and presented by the Economic Development department at a special Council meeting.

 “This Action Plan was developed to provide immediate financial relief for all taxpayers,” said Mayor Rob Burton. “The Plan addresses short term cash flow issues facing all taxpayers, as well as the need to move development projects forward to support long term economic recovery.”

Property tax assistance will provide all property taxpayers with a two-month grace period for the payment of taxes due on April 24, 2020. This will including waiving penalty, interest, and non-sufficient funds charges for returned payment until June 30, 2020. Property owners also have the option to opt-out of pre-authorized payment plans without penalty, from April 1 to June 30, 2020.

Action items providing immediate assistance include the suspension of parking fees, additional permissions for A-frame signage, an extension for business license renewals, and the Digital Main Street Program. Longer term initiatives will focus on identifying strategies to promote continued development activity.

“I, along with the Economic Development office, Oakville Chamber of Commerce and Oakville Business Improvement Associations, have formed an Economic Task Force to investigate ways to provide immediate short-term relief measures to the business community as well as look at options to support the recovery and repair of the local economy in the longer term. This plan is the first step in that process,” said Mayor Burton.

For the complete Economic Action Plan, visit the Invest Oakville COVID-19 Business Information webpage.