Annual Property Taxes
Each year (as required by the Community Charter), after adoption of the financial plan but before May 15, a council must, by bylaw, set property value taxes for the calendar year (January 1 through December 31) by establishing tax rates. For more information on laws and guidelines governing municipalities see the Community Charter and Local Government Act page on our website.
General property taxation is the single most important source of revenue for local governments. Each year, after setting the budget, Council must project the net amount of funds required through property taxes to support local services. The general municipal tax rate, together with the assessed value and classification (property use – i.e., residential, commercial, industry, farm etc.) of the taxable property, determines the taxation for each property.
The Assessed value of a property is determined by BC Assessment. BC Assessment is a provincial Crown corporation, governed by a Board of Directors and accountable to the Minister of Community, Sport and Cultural Development. The Assessment Act mandates BC Assessment to accurately value and classify all properties in British Columbia, producing assessments that are fair, equitable and uniform. There are nearly 2 million properties in the province valued at more than $1 trillion. Each year BC Assessment provides a tool called e-valueBC which allows property owners to compare assessment values online. A link to this tool can be found HERE.
Once the annual Tax Rate Bylaw has been adopted by council Property Tax notices are generated and mailed out (usually the last couple of weeks in May). The due date for Property Tax payments is the first business day after the holiday in July. Any outstanding tax balance after this date will have a 10 per cent penalty assessed. The current Annual Tax Rate Bylaw can be found using our Bylaw search
Taxes Collected for Other Levels of Government
In addition, we collect taxes on behalf of various levels of government including Police, School, CSRD and RDEK Hospital and remit the funds to them. This can be a significant portion of your annual tax bill. It is important for residents to understand that of the total amount of their tax bill, the amount that actually goes to the municipality is considerably less.
Property Tax Prepayment Plan
Tax payers have the option to participate in a Property Tax Prepayment Plan. The property tax account must be current, meaning there can be no outstanding property taxes against the property. Participants, who wish to participate in the plan, must apply, and reapply every year. Interested folks must fill out an Property Tax Prepayment Plan Application Form (PDF) and Agree to the Terms and Conditions.