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Realty Tax Assistance/Rebate Programs
The City of Peterborough offers various tax credit and rebate programs to assist with realty taxes. The first program offered is for Low Income Seniors & Low Income Disabled taxpayers. The second program is the Heritage Tax Credit program.
Low Income Seniors or Low Income Disabled Persons Property Tax Assistance Program
- Tax Relief granted under this program shall be an outright cancellation of the annual eligible amount, provided that:
- the Owner, or the spouse of the Owner, or both occupy(ies) and is named as an owner of the property applied for and that the property taxes imposed are for their principal residence only
- the Owner, or the spouse of the Owner, or both are assessed as the owner of residential real property in the City of Peterborough as of May 1st, 2016
- the Owner, or the spouse of the Owner, is a person who is in receipt of benefits paid under the Ontario Disability Support Program Act, 1997; OR a person who is 65 years of age or older, as of December 31st, 2015 and is in receipt of benefits paid under the Guaranteed Income Supplement , as established under The Old Age Security Act (Canada), or under Guaranteed Annual Income System (GAINS) as established under The Ontario Guaranteed Annual Income Act; OR a person who is 55-64 years of age, as of December 31, 2016 and whose combined taxable income as reported on Line 260 of 2015's Income Tax Notice of Assessment is less than $25,000.
- The applicant, and their spouse (if applicable) must solely own and occupy the property for which they are seeking tax relief.
- The tax relief is calculated as the amount required to limit the 2016 property tax amount paid to no more than 2% more than the 2015 property tax amount paid (including any 2015 credit given), to a maximum credit of $561.
- The tax relief does not apply to increases in assessment for New Residential properties, renovations and/or additions to properties.
- The tax relief applies only to increases in tax on assessment and does not apply to any additional charges that may be levied, including but not restricted to: local improvement charges, building department recoveries, Peterborough Utilities Services charges, NSF fees, Statement fee charges and any other miscellaneous types of charges.
- Tax relief shall be granted to only one eligible owner per eligible property per year.
- The tax relief shall be prorated from the date of ownership, if the applicant purchases the property after January 1st of the year for which the tax relief is sought.
- The tax relief amount will be applied against the 2016 Final Tax bill thereby reducing the July and September instalments payable. For those taxpayers on the monthly pre-authorized payment plan, their monthly amount will be adjusted to include the tax relief for the final six monthly payments of 2016.
- No tax relief pursuant to this program shall be allowed in respect of more than one single family dwelling unit in any year. This property must be solely classified in the Residential tax classification.
- No tax relief shall be granted to those owners who may be in receipt of tax relief under the Heritage Tax Credit program.
- The eligible amount for tax relief is that part of the 2016 tax increase in excess of the net maximum percentage increase, being 2%, that is to be absorbed by the eligible taxpayer for this program to a maximum tax relief of $561.
- Applications must include supporting documentation establishing that the applicant is receiving funds under one of the prescribed programs or that their combined taxable income is less than $25,000 annually as required.
- If taxes are paid in full for the entire year a rebate cheque will be issued for any amount exceeding $50, otherwise the rebate amount will be applied to the property tax account. If taxes and penalty are not paid up-to-date the tax relief amount will be deducted from the outstanding tax account.
- In the event that the current value assessment of an eligible property is reduced subsequent to the granting of tax relief in a particular year, any such resulting overpayment will be added back to the tax account and subsequently invoiced to the taxpayer.
- Owners receiving tax relief through this program who subsequently sell their property must reimburse the City with the unused portion of the annual amount for the year in which the sale took place.
- The 2016 application form is available now.
If you require help in completing this application form or have questions regarding the Low Income Senior or Disabled Property Tax Relief Program, please contact:
City of Peterborough
Property Tax Department
Heritage Tax Rebate Program
Program Details: Owners of property designated under The Ontario Heritage Act and subject to a heritage conservation easement agreement may be eligible to receive tax relief for municipal and school purposes levied on their eligible heritage property in the amount of 40% for residential properties and 20% for commercial and multi-residential (including new multi-residential) properties. The Heritage Tax Relief Program is subject to the conditions set out in enacting by-law 03-208 & 04-023, and persons wishing to apply for Heritage Tax Relief shall use this application form.
- The Heritage Property Tax Relief Program is subject at all times to the availability of funding for the program. The City of Peterborough or Council is not required to provide funding for this program and the program may be eliminated by Council through repeal of the enacting by-law at any time, with no notice whatsoever to affected persons.
- The Heritage Property Tax Relief Program is subject to any regulations that the Minister of Finance may make governing by-laws on tax refunds and reductions for heritage properties.
- Applicants need only apply once every five years for the relief.
- Only one heritage tax credit will be allowed annually for each easement agreement in respect of an eligible heritage property in the residential, commercial or multi-residential property tax class.
- If multiple easement and/or preservation and maintenance agreements are registered on one parcel of land, only one credit will be provided for that parcel.
- The portion of a property’s total assessment that is attributable to the building or structure or portion of the building or structure that is eligible heritage property and the land used in connection with it may be determined by the assessment corporation at the request of the City.
- The owner of an eligible heritage property must make application on the prescribed form no later than the last day of February in the year following the year for which the owner is seeking to obtain the heritage tax refund. Applications received after this date will only be considered for the following taxation year.
- Where funding is insufficient to give heritage tax relief to every eligible applicant, applications will be considered in the order they are received. No priority will be given to applicants who have previously obtained heritage tax relief.
- Once application for the Program or for Program renewal is made, the owner must consent to the City conducting an inspection to determine the condition and extent of the heritage attributes which the easement agreement and maintenance and preservation plan will cover.
- No heritage tax relief will be given where the City determines that the relevant easement agreement and preservation plan has not been complied with to the satisfaction of the City.
- The heritage tax relief shall be calculated using the assessed value of the property for taxation purposes. If the assessment of a property for a year changes as a result of proceedings under The Assessment Act, the heritage tax credit shall be re-calculated using the new assessment.
- If the owner of an eligible heritage property demolishes the eligible heritage property or breaches the terms of the relevant easement or preservation and maintenance agreement, the City may require the owner to repay part or all of any heritage tax refund(s) provided to the owner for one or more years under this program.
- The City may require the owner to pay interest on the amount of any repayment required at a rate not exceeding the lowest prime rate reported to the Bank of Canada by any of the banks listed in Schedule I of The Bank Act (Canada), calculated from the date the Heritage Tax Relief was provided.
- Any amount repaid will be shared by the City and school boards that share in the revenue from taxes on the property, in the same proportion that they shared in the cost of the heritage tax refund(s) on the property.
- If tax arrears are attributable to a property, any relief granted will first be applied against the outstanding tax liability in respect of the property.
If you require help in completing this application form or have questions regarding the Heritage Property Tax Relief Program, please contact:
City of Peterborough
Heritage Preservation Office
705-742-7777 ext. 1489