The Town of Innisfil, Ontario announced in a press release this week that residents will be able to pay their municipal property taxes using Bitcoin. The city council approved the decision in a vote Wednesday night, and the new crypto payment option is expected to be available in April.
The vote approved a partnership with Toronto firm Coinberry Limited, which will be responsible for providing the Bitcoin payment option to Innisful residents during the one-year pilot program.
Mayor Lynn Dollin said that the move demonstrates Innisfil’s forward-thinking approach:
“Once again, we are proud to be first in taking this bold step by offering this new, exciting payment option to our residents. There’s no doubt that cryptocurrency is growing in usage and popularity. By getting into this now, we are making sure our municipality is ahead of the game, and signalling to the world that we truly are a future-ready and innovative community.”
According to the press release, Coinberry is launching its Coinberry Pay Bitcoin payment solution to facilitate residents’ use of Bitcoin for property tax payments. Residents will reportedly see a Bitcoin payment option on the Town of Innisfil website and can make a payment to the town’s digital wallet using Coinberry Pay. The Bitcoin payment will then “be instantly converted to Canadian funds and transferred to the Town of Innisfil.”