These initiatives, they are related. The Property Tax Arrears program will help residents that have built up appears in the past. It is a time-limited program, however, to deal with these circumstances. Going forward, the standard interest rate establishes a more reasonable interest rate on any outstanding amounts owed to the GNWT in property taxes. These two initiatives taken together should help address the historic problem we have had with property tax arrears. That said, though, residents will have to pay their property taxes, and, if they do not, the arrears will start to grow again over time. With the other piece of legislation that we were dealing with, we had varying interest rates across the programs in the Northwest Territories. I think we had some as high as 18 percent. We are starting to standardize all of those, so I think it will do well for the people of the Northwest Territories. Thank you, Mr. Speaker.
Robert C. McLeod on Question 803-18(3): Property Tax Arrears Program
In the Legislative Assembly on August 14th, 2019. See this statement in context.
Question 803-18(3): Property Tax Arrears Program
Oral Questions
August 14th, 2019
Page 6004
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