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City approves cutting late penalties for property taxes to 3.5 per cent

Last Updated Sep 16, 2020 at 8:22 am MDT

A shot outside the entrance to Calgary City Hall on April 30, 2020. (PHOTO: Tom Ross, 660 NEWS)

CALGARY (660 NEWS) – Calgarians struggling to make property tax payments will be getting a break from the city.

City council recently passed a motion that will see late payments for taxes reduced from seven to three-and-a-half per cent.

The motion to reduce or cancel high-interest late payments was first presented by Ward 5 Councillor George Chahal in July.

“Calgarians have experienced financial challenges on many fronts, such as volatile energy markets, storm damage, and COVID-19 pandemic shutdown effects,” said Chahal.

“Reducing late payment penalties on property tax bills from seven per cent to three-and-a-half per cent will provide short term financial relief to property owners, while still incentivizing timely payments on outstanding balances.”

In May, city council voted to move the deadline for property tax payments from June 30 to Sept. 30 due to economic challenges brought on by the pandemic.