Property taxes in B.C. are payable each year on the 4th or 5th of July depending on the municipality.
However, if your lender or bank is collecting the annual amount for taxes with each mortgage payment, you must still sign the tax notice from the City or District and send it back without payment.
This is particularly important if the property in question is your home, as you are likely entitled to the BC Home Owners Grant of $570+, or even more if you’re a senior.
- You must claim your Home Owner grant to avoid a penalty of 5%!
- Also, the senior’s grant is applicable in the year in which you turn 65. Thus if you are 65 in December 2011, your grant will still apply in July 2011.
- This is very easy to miss!
To claim your grant, just select the appropriate grant option that applies to you, sign the form and return to the City or District. Do not include payment as the bank will do it for you.
If your bank is not collecting your tax, be sure to include your cheque for the net amount due.
For those not having the bank collect, your City or District will set up a pre-authorized Tax Installment Plan for you if you wish.
If you require assistance with this in any way, don’t hesitate to contact me.
E&OE
(Copyright Dara Fahy. All rights reserved.)
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