Effective January 1, 2020, development charges for eligible rental, institutional and non-profit housing projects, as defined in Ontario Regulation 82/98, may be deferred and paid in instalments as follows once occupied:
Upon occupancy, the City will issue a statement with your first instalment amount that is due and payable within 30 days. For the remaining instalments, a new payment statement will be issued annually on the anniversary of the occupancy date.
Deferred Development Charges for eligible developments are charged interest at the Canadian Bank Prime Rate plus three per cent or, if a letter of credit is provided to secure the amount of the development charge, the City’s Cost of Capital plus 0.5 per cent.
Applicants who do not wish to pay in instalments with interest also have the option to pay the full development charge at building permit issuance upon executing a payment agreement with the City.
For instalment payment arrangements, payments may be submitted by:
| Mailed payments | In-person payments |
|---|---|
| Submit cheque payments by mail:
City of Toronto |
In-person payments to be accepted at:
City of Toronto |
| Year | Quarter | Secured Rate | Unsecured Rate |
| 2020 | Q1 | 2.49% | 8.95% |
| 2020 | Q2 | 2.25% | 7.45% |
| 2020 | Q3 | 1.61% | 7.45% |
| 2020 | Q4 | 1.52% | 7.45% |
| 2021 | Q1 | 2.01% | 5.45% |
| 2021 | Q2 | 2.81% | 5.45% |
| 2021 | Q3 | 2.69% | 5.45% |
| 2021 | Q4 | 2.51% | 5.45% |
| 2022 | Q1 | 2.77% | 5.45% |
| 2022 | Q2 | 3.62% | 5.70% |
| 2022 | Q3 | 5.02% | 6.70% |
City of Toronto
Revenue Services
Attn: Planning and Policy Development
5100 Yonge St., Lower Level
Toronto, ON M2N 5V7
If any part of the development charge remains past due and unpaid, the overdue amount, including any interest, will be added to the property tax account in accordance with Section 32 of the Development Charges Act. Amounts added to the tax roll are subject to late tax bill payment collection processes.
The City takes action to collect overdue charges. The collection protocol for unpaid property taxes is followed in accordance with Chapter 767 of the Toronto Municipal Code. Penalty and interest rates are set by City by-laws, pursuant to the City of Toronto Act, 2006.
If there is a Letter of Credit in place, any part of the development charge that remains past due and unpaid, including interest, will be drawn from the Letter of Credit. Any overdue amount not covered by the Letter of Credit will be transferred to the property tax account in accordance with Section 32 of the Development Charges Act. Amounts added to the tax roll are subject to late tax collection processes.