While Timmins council is still working on the 2021 budget, the interim tax levy bylaw has been approved.
“This is the annual approval that’s required by council to issue the issue the interim tax bills,” explained director of finance Natalie Moore.
The Municipal Act allows the city to collect up to 50 per cent of the previous year's tax levy before the current year's budget is approved.
According to Moore's report, the bylaw "helps the city with cash flow to offset current expenditures and reduce borrowing costs."
The due date for the interim tax bill is March 1. Moore said bills will be issued in February.
Homeowners also have the option for monthly payments.
"We offer residents the opportunity to pay their current taxes through monthly payment plans in order to spread out their payments evenly throughout the year," reads the report.
Council's next date to talk about the 2021 budget is Feb. 2.
