Property tax help for those impacted by COVID-19
The Municipality of Cumberland now offers a one-time property tax installment payment program for residential and commercial properties negatively affected by the COVID-19 global pandemic.
“We are in an unprecedented pandemic and we needed to be compassionate to the situation,” said Warden Al Gillis. “When you have your financial situation drastically changed due to global forces you cannot control or even imagine, you need your government to help you.”
To qualify for the COVID-19 property Financing Program you must be the owner of:
- a residential property that is your primary residence, and you have experienced a significant reduction in income due to the State of Emergency;
- a taxable commercial property (shopping, office, industrial, farm) which has experienced financial hardship through loss of revenue related to the State of Emergency;
- a property that is used for tourist accommodations (e.g., hotels, motels, bed and breakfasts) and you are a registered tourism operator under the Tourist Accommodations Registration Act.
If your application is approved, your property tax payments will be spread out over 30 months. Your first six (6) payments will be $25 per month. The remainder of your tax bill will be divided by 24 to get the monthly amount you will be expected to pay. A small amount of interest (1.35%) will be applied to your monthly payments.
Note: If you default on any of your monthly payments you will be taken out of the program and will be required to pay the full amount owing and interest rates will increase to the Municipality’s normal rate of interest.
For full details on the program please click here