A tax deferral program has been launched for small businesses in Kingston who have been impacted by COVID-19.
The City’s final property tax bill was deferred to the end of August this year, to help alleviate financial pressures cause by the pandemic. That bill, usually due at the end of June, is now in the mail and should arrive in mailboxes early in August.
The Small Business Property Owner Tax Deferral program will allow eligible small business property owners to defer their final property tax bill from the Aug. 31 deadline to Nov. 30, providing them with some additional time to recover from the pandemic.
“Property taxes are an important source of revenue for a city and allow for the delivery of essential services. Waiving them is not an option. However, recognizing the fiscal challenges experienced by the small business sector and, in particular, tourism-related businesses, the City has introduced the Small Business Property Owner Tax Deferral program to assist small business property owners, hotels and motels experiencing financial hardship from COVID-19,” says Jeff Walker, the City’s Manager of Taxation.
Hotels, motels and commercial properties valued at $2 million or less are eligible to apply.
Small business property owners are invited to learn more about the program. Full eligibility criteria and the online application form are available at CityofKingston.ca/Tax. In order to qualify for the program, applications should be submitted by Monday Aug. 17, 2020.