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Tax Discount and Interest Rates

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The 2020 tax discounts and tax interest will be applied monthly at an annual rate of 1.0% based on the minimum balance in the account during the month. The credit will be applied to the tax account on the first business day of the following month.

 2020 Discount / Interest Rates

 *January - April

  0.10% per month  

 *May - June 

 0.12% per month

October - December

 0.12% per month

* The rates for January to April are a Discount Rate, which is not taxable by Revenue Canada.

Payments and discounts will appear as a credit on the 2020 Tax Statement when issued. Payments may be made in any amount not exceeding the amount of the 2019 Tax Levy.

To ensure payments are applied to the correct accounts, please specify your address and tax account number.

For further information please contact the Customer Service Department, Main Floor, City Hall at 529-8111.