Council Approves Tax Rate Bylaw
April 28, 2020
During their April 27, 2020 meeting, Peace River Town Council voted to approve the 2020 Tax Rate Bylaw.
Tax revenue needs in 2020 have been reduced to nearly the same as 2019, this is in response to the pressures placed on the community due to the COVID-19 pandemic. In 2019 the tax rate bylaw requisitioned $11,317,810 and in 2020 the bylaw is requisitioning $11,301,470 for a net decrease of $16,340. These savings were identified during a financial review brought before Council on April 14, which identified how the Town could reduce revenue needs for 2020.
For most ratepayers, these changes will result in a zero percent, or negligible, increase in property taxes for 2020.
Additionally, Council approved the Tax Penalty Bylaw in the same meeting. While the Tax Penalty Bylaw does not change the tax due date it does modify penalties. Taxes are still due at the end of June, however, the first penalty date on unpaid taxes will be October 1st. This measure was also taken to ease pressures due to COVID-19 by allowing more time to pay without penalty.