The deadline for both residential and commercial property taxes has been pushed back by more than two months to help homeowners and businesses during the COVID-19 pandemic.
The deferral was recommended earlier this April and approved during a city council meeting on Tuesday night.
The new tax payment deadline is now September 30, 2020, moved from July 3.
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Mayor Kennedy Stewart says that the measure reduces stress on both Vancouver residents and the City of Vancouver.
“COVID-19 has put a lot of strain on the finances of residents and business owners as well as the City itself,” he says in a statement. “That’s why I’m glad Council supported offering a delayed property tax payment deadline.
“Combined with a business tax cut made possible by lower Provincial school taxes, these measures will help reduce financial stress while helping us maintain essential public services we all need to help propel Vancouver into recovery.”
Earlier this month, the BC Government announced that it would be reducing most commercial property tax bills by an average of 25%, along with additional measures to support municipal governments.