The City of Penticton says it has come up with a package of financial relief options for residents and business owners impacted by the coronavirus pandemic.
The relief options, said the city, include a 60-day property tax deferral, a one-time grant for property taxes and utility relief.
The package was announced on Friday following a special city council meeting on Thursday.
The city said data from a recent survey was taken into consideration during the meeting.
“Many of you throughout our community have been hit hard financially,” Penticton mayor John Vassilaki said in a press release.
“We hear you and we are deeply grateful for all the feedback you have provided as we work toward our city’s relief and recovery. We are here to support you and to ensure our economy comes out of this stronger and more connected than ever before.”
According to the city, the relief options include:
Property taxes
- A one-time grant equivalent to 2.9 per cent will be applied, effectively reducing the 2020 property tax increase to 0 per cent.
- In addition, all taxpayers have been granted a 60-day, penalty-free grace period on payments to Sept. 30, 2020.
Utility relief
- The traditional 10 per cent early payment discounted rate will be applied on all utility invoices (electric, water and sewer) for all customers, regardless of whether the payment is made on time.
Building permit fees
- Fees will be waived for homeowner renovation projects up to $100,000 in construction value until October 2020 in a bid to encourage home building projects.
Business licences
- Late penalties will be waived on licences and enforcement of delinquent accounts suspended until October 2020.
Vacant buildings
- The Good Neighbour Bylaw requirement has been temporarily suspended for buildings that aren’t occupied due to COVID-19.
Development cost charges
- The planned July 1, 2020 Development Cost Charge increases have been postponed to 2021.
Business tax multiplier
- A neutral effect will be applied to the tax amount so everyone sees the same percentage change.
“Although council has approved a 60-day property tax deferral, we encourage those unaffected financially by COVID-19 to still make their property tax payments by July 31, 2020,” said Jim Bauer, Penticton’s chief financial officer.
“This will help maintain the financial health of the City so we can continue to provide the essential services that our community requires.”