Extension of the temporary suspension of interest and penalties for all amounts due to the town of Sutton
A resolution was passed by Town Council on October 5 to grant an additional suspension of interest and penalty charges to citizens who are late with their payments to the municipality. As a reminder, this is the third delay since the start of the pandemic: a resolution last April had indeed postponed the calculation of interest for 100 days, followed by a second resolution in June adding a new deadline of 100 days.
This third resolution therefore suspends, until December 31, 2020, the interests and penalties normally attributable to any citizen who has not paid their due to the municipality within the prescribed deadlines. This concerns municipal taxes, transfer duties, permit fees as well as municipal day camp fees and any other billable service provided by the Town.
From an accounting standpoint, these suspension measures intended to temporarily ease household spending are valued at around $100,000 in loss of interest income.
However, it is important to know that the accounting of these interests will resume as of January 1st, 2021. Citizens are therefore invited to pay any amounts due to the Town as soon as possible in order to avoid additional penalty and interest fees.