PROPERTY TAXES AND RELATED INFORMATION

PROPERTY ASSESSMENTS

For clarification, the Village of Radium Hot Springs DOES NOT issue the annual Property Assessment Notices. Assessment Notices are issued by BC Assessment.

Every January, the BC Assessment Authority, which operates as an independent, provincial Crown corporation, mails out assessment notices to all property owners in British Columbia.   For information regarding how property values are arrived at or the appeal process, please visit BCAA’s website at www.bcassessment.bc.ca.  

PROPERTY TAXES

Each year, after adoption of the financial plan but before May 15, council must, by bylaw, impose property value taxes for the year.  These rates are then applied to the assessed values of properties, which are provided by BC Assessment. Property Taxes are due in July.

PAYMENT OPTIONS:

ONLINE/TELEPHONE BANKING:

If you are paying by way of online or telephone banking, there is always a lag time between when you make the payment and when that payment is credited to the Village bank account (can be up to three or four days). Please ensure that you allow adequate time for this payment to be processed by the banks (ie. don’t make the payment the night before the due date).

PAYMENTS SENT BY POST/COURIER: 

Historically, Canada Day falls right around the time that taxes are due. In previous years, we have encountered delays in receiving mail from out of town or out of province (sometimes up to two weeks). Please allow sufficient time for your cheque to reach the Village Office as post-marks are not accepted.  An automatic 10% penalty is levied against the current tax amount the date after the taxes are due.

OTHER PAYMENT OPTIONS:

We also accept payment in the Village Office by way of cheque, cash, Interac or Bank Draft. We DO NOT accept Visa or Mastercard.

NEW HELP FOR HOMEOWNER

The Provincial Government has introduced two programs that will allow property owners to defer their taxes.

FINANCIAL HARDSHIP PROPERTY TAX DEFERMENT PROGRAM (2009 & 2010 only)

In light of recent global economic events, the provincial government announced amendments to the Land Tax Deferment Act creating a new, temporary program which will allow eligible homeowners facing financial difficulties and who have at least 15% equity in their homes, to defer their 2009 and 2010 property taxes.  This program is similar to the current Property Tax Deferment Program, however, this new program allows individuals under the age of 55 to apply, and is for a specific period of time. Homeowners could apply for the program only after the 2009/2010tax notices have been levied by the municipality.  For more information on how to apply, go to www.gov.bc.ca/sbr  and look for the link to Property Taxes/Deferment  or www.sbr.gov.bc.ca/individuals/PropertyTaxes/PropertyTaxDeferment/Publications.htm

PROPERTY TAX DEFERMENT PROGRAM

The British Columbia Property Tax Deferment Program is a loan program that allows you to defer your annual property taxes on your home if you meet certain criteria.

In order to qualify, you must be:

• A Canadian citizen or permanent resident;
• A resident of BC for at least one year immediately prior to applying for deferment benefits;
• 55 years of age or older during that calendar year (only one spouse must be 55 or older);
• A surviving spouse; or
• A person with a disability as defined by regulation. For detailed information, visit the provincial website at www.sbr.gov.bc.ca/individual.html and click on “Persons with Disabilities” link.

For further information, applications and instructions on how to apply, you can visit the nearest Service BC Centre (Invermere) or the Village of Radium Hot Springs municipal office. You can also obtain information at the Tax Deferment Program website at www.sbr.gov.bc.ca/rpt or telephone Enquiry BC at 1 800 663-7867 (request a transfer to 387-0555).

HOME OWNER GRANTS 

The Home Owner grant is a grant to assist residents of British Columbia in reducing their property taxes. There are two categories of grants – regular and additional.

To apply for the regular grant:

• You must be a Canadian citizen or permanent resident and ordinarily reside in British Columbia;
• You must be the registered owner of the home on which the grant is being claimed;
• You must occupy the home as your principal residence.

To apply for the additional grant:

•  You must meet the requirements above and be 65 years of age or older.

As soon as you receive your tax notice you can claim the grant, even if you aren’t paying your taxes at that time. If your taxes are being remitted by a financial institution you still must attend at the Village office and claim the grant. Please do so as soon as possible.

For more information regarding the Home Owner Grant program, contact the Village Office, or visit the Home Owner Grant Administration website – www.sbr.gov.bc.ca/individuals/Property_Taxes/Home_Owner_Grant/hog.htm

FOR FURTHER INFORMATION REGARDING THE ABOVE, PLEASE CONTACT THE VILLAGE OFFICE.