In response to COVID-19 and to help mitigate impacts on Londoners and local businesses, London City Council tonight unanimously approved three measures to provide immediate economic relief:
- All interest and penalties for unpaid Interim 2020 Property Tax Installments that come due on March 31, 2020 will be waived for a period of 60 days.
- All interest and penalties for unpaid water and wastewater billings will be waived for a minimum period of 60 days.
- All Community Improvement Plan (CIP) loan repayments will be deferred on an interest-free basis for a minimum period of 60 days
These financial support measures will provide immediate support over the next 60 days to help reduce the financial strain Londoners are facing during the COVID-19 pandemic. The initial measures complement recently announced Federal and Provincial financial aid programs and are a first step in longer-term economic support for London.
“City Council and staff have acted quickly to take this first important step in providing Londoners with immediate economic relief,” says Acting Mayor Jesse Helmer. “These initial measures will help ease some of the financial burden our residents and our business community is facing during this unprecedented and challenging time. Londoners should expect all levels of government to continue to work together to meet these challenges.”
The property tax payment deadline for the March interim installment remains March 31, 2020, however, residents not able to make a payment by the deadline will not be charged late penalties or interest in April or May on late payments. While these measures were approved for 60 days, Council has directed staff to report back with next steps on further options to assist taxpayers, including potential deferral of the next installment scheduled for June.
The waiving of interest and penalties does not apply to payments already setup through pre-authorized payments, post-dated cheques to be cashed on March 31, 2020, property tax accounts being paid by a financial institution from the property owner’s mortgage payments, supplementary taxes due on March 31, 2020 and April 30, 2020 for the years 2019 and 2018, or to any arrears that arose prior to the March 31 interim installment due date.
Residents looking to continue paying their property tax instalments during this time can do so with payment options that are available while City Hall remains closed to the public.
Business owners with Community Improvement Plan loans will have their loan repayments deferred interest-free for 60 days, beginning on March 25.
FAQs can be found below.