What is property tax deferral?

On March 24, 2020, council passed a motion to provide an option for homeowners and businesses to extend property tax payments which would normally be due on June 30, 2020 to September 30, 2020.

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1. What is property tax deferral?
2. Why is the City doing this?
3. Will I incur interest or penalty charges for delaying property tax payment until September 30?
4. When will I receive my property tax notice?
5. Should I delay paying my property taxes?
6. I am set up for the TIPS (monthly property tax withdrawal) program. Will the city still be taking these payments?
7. I am not set up for the TIPS (monthly property tax withdrawal) program. Do I need to contact the City to defer?