Tomorrow is the deadline for commercial property taxes in Kamloops, and 91 per cent of the total amount billed to businesses has been paid on time.

The ones that haven’t now will have a 10-per-cent penalty added on.

Mayor Ken Christian says the 10 largest commercial businesses have all paid taxes on time.

“The big commercial players, Aberdeen Mall, Domtar – $5 million dollars – those kinds of big cheques have come in. Those are going to keep the city afloat and provide us with the money we need to do the services the people want,” Christian says.

“We are already projecting about a $5-million-dollar loss this year because of COVID-19, and this will help limit the impact of those losses.”

The commercial business tax deadline was pushed back this year, because of the pandemic.

In total, the city’s finance director Kathy Humphrey says 95 per cent of all property taxes have been paid; the split being 91 per cent for commercial taxpayers and 96 per cent for residential.

The deadline for residential taxes was July 2, but residential property owners could pay for the entire month of July before a five-per-cent penalty was applied on July 30.

A further five-per-cent penalty for residential property taxes will also be applied tomorrow, for amounts that are still owed.

“People are struggling, there’s no question about that. Maybe the other shoe may drop over the winter as some of these commercial businesses, in particular, close,” Christian says. “But we’ll cross that bridge when we get to it.”