Property tax financing help is available
June 5, 2020
Financing program begins with 6 months of $25 payments
SYDNEY, NS – Property tax bills are due on June 30 and Cape Breton Regional Municipality has a program to assist residents affected by the COVID-19 State of Emergency.
The Municipal Property Tax Financing Program is available for eligible residential and commercial property owners.
Property owners who own a residential property and have experienced a significant reduction in income due to the State of Emergency may be eligible.
Taxable commercial properties, such as shopping, office, industrial, and farm properties may also be eligible if they have experienced financial hardship through loss of revenue related to the State of Emergency.
A property that is used for tourist accommodations and is registered under the Tourist Accommodations Registration Act, such as hotels, motels, bed and breakfasts are also eligible.
Further details, an example and links to the online application and printable application form can be found on CBRM’s website at www.cbrm.ns.ca
For approved applications, property tax payments will be spread out over 30 months with the first six payments at $25 per month.
The remainder of the tax bill will be divided by 24 to get the monthly amount for the rest of the term.
A small amount of interest, 1.35 per cent, will be applied to the monthly payments. The deadline for applying is June 30.