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The Province has given municipalities two acceptable approaches to implementing the education property tax deferral for Non-Residential owners.
Approach 1 was to defer six months worth of education property taxes for the period April 1, 2020 to September 30, 2020.
Approach 2 was to take a combined deferral of both municipal and education property tax.
The Town of Slave Lake has taken approach number 2 to offer a more favorable deferral program to our residents. All taxes have an effective due date of August 31, 2020. This is a 62 day deferral on ALL (Municipal, School, Seniors, Other) taxes owing.
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Taxes are due June 30th, 2020.
The amount is still considered due, however there will be no penalties applied for non-payment until September 1st, 2020. This effectively means that you have until August 31st, 2020 to pay your taxes. This deferral program applies to both Residential and Non-Residential property owners in the Town of Slave Lake.
Yes. We are encouraging everyone who has the means and ability to pay taxes prior to August 31st, 2020 to do so. In doing so you will be helping to minimize the cash flow challenges facing the municipality.
Penalty dates have been adjusted for the 2020 year. The new dates are September 1st, 2020, October 1st, 2020 and January 1st, 2021.
Rates for penalties have been adjusted for the 2020 year. The rate charged on September 1st, 2020 is 2%. The rate charged on October 1, 2020 is 2%. The rate charged on January 1st remains at 10%.
The September and October penalties are applied to the portion of unpaid taxes for the current 2020 year. The January rate is applied to the total outstanding balance of all taxes owing.
Property Owner A does not pay his 2020 taxes. What are the applicable penalties for the 2020 year?
2020 tax levy = $3,100. This levy is due June 30th, 2020. No payments are made in 2020.
On September 1st, 2020 a penalty is applied. Unpaid taxes ($3,100) x 2% = $62 penalty.
On October 1st, 2020 a penalty is applied. Unpaid taxes ($3,162) x 2% = $63 penalty.
On January 1st, 2021 a penalty is applied. 2020 outstanding balance ($3,100+$62+$63) = Total outstanding balance of $3,225 x 10% = $323 penalty.
Property Owner B did not pay his 2020 taxes on June 30th, 2020 but made the payment in full prior to September 1st, 2020 :
2020 tax levy = $3,100. This levy is due June 30th 2020. No payments are made until August 31st, 2020.
On August 31st, 2020, a payment of $3,100 is made to the Town. All of the taxes were paid prior to September 1st and are not subject to penalty.
The Province requires the educational property tax for municipalities be remitted every March, June, September and December. The Town collects this tax on behalf of the Province, every year, through our yearly tax bill that is normally due June 30th. In the event the Town does not receive payment from property owners for this requisition by June 30th, the Town must still remit to the Province the requested amounts. This year the Province will be lowering the amount municipalities must remit for June and September however, the amount deferred must be remitted in December. This can create cash flow problems for the Town and is why we are encouraging all property owners who have the means and ability to pay their taxes by June to do so.