Vancouver homeowners can wait until Sept. 30 to pay property taxes
VANCOUVER -- Homeowners, you can now take until the end of September to pay your taxes in Vancouver.
Council voted Tuesday night to move the July 3 deadline into the fall for owners of residential properties. The delay also applies to those who own commercial real estate in the city.
The province previously announced a delay in the penalty date for commercial taxpayers, and the city's charter requires tax payment and penalty dates to be aligned.
Property owners now have until Sept. 30 to make their payment.
Statements will be mailed out by June, and those who want to pay early may do so. Late penalties will take effect as of Oct. 1.
"COVID-19 has put a lot of strain on the finances of residents and business owners as well as the city itself," Mayor Kennedy Stewart said in an emailed statement Wednesday.
"Combined with a business tax cut made possible by lower provincial school taxes, these measures will help reduce financial stress while helping us maintain essential public services we all need to help propel Vancouver into recovery."
While the news may be welcome news, the mayor previously warned next year's taxes may be disappointing for some.
Urging the province and Ottawa for funding, the mayor said last week if nothing changes, the city may have to impose what he described as "large" tax hikes over the next few years to recoup the losses during COVID-19.
Deep service cuts are another option the city may have to look at to get out of debt.