Town Council passed Bylaw 22-20 to permit Town of Okotoks taxpayers the option to defer the payments on 2020 taxes without penalty, until August 31, 2020. This property tax relief measure is a response to the COVID-19 pandemic.
Council recognizes that the COVID-19 pandemic has placed financial constraints on many Okotoks taxpayers and in order to provide financial relief, this bylaw will permit all taxpayers, residential and non-residential, the option to defer their taxes.
Okotoks residents and businesses will be able to choose whether to defer their full tax bill or the July and August 2020 current tax TIPP payments, without penalty until August 31, 2020.
No penalties will be charged until September 1, 2020 on current 2020 taxes. After August 31 unpaid taxes will receive a penalty equal to 4 percent as of September 1, 2020, 4.5 percent as of October 1, 2020; 5 percent as of November 1, 2020 and 1.5 percent as of December 1, 2020.
Taxpayers who participate in the TIPP program have the option to defer their pre-authorized TIPP withdrawals for July and August. The Town will automatically reinstate TIPP payments on September 1 and the deferred withdrawals will be spread out evenly over the last four monthly payments from September to December.
In March of 2020, the Government of Alberta announced a six month deferral on the non-residential education requisition amount on property tax bills. After consulting with other municipalities, it was identified that this would complicate tax collection, require municipalities to issue multiple bills, and lead to confusion. To correct this, municipalities were given the option of collecting the non-residential education property tax for businesses for six months or deferring both the municipal and education property tax for a shorter period, which provides an equivalent benefit.
Property tax notices will be mailed on May 25 and are due on June 30, 2020.
The Town asks all property owners who can pay their taxes on time to please do so and honour the normal due date of June 30. This helps ensure the municipality can continue to deliver the essential and vital services during these challenging times.