May 24, 2023
At the regular Council meeting of May 23, 2023, Council of the Village of Radium Hot Springs authorized a one-time grant-in-aid to property owners in the Village of Radium Hot Springs to offset the Municipal Levy within 2023 Property Tax Notices mailed out last week.
Village of Radium Hot Springs property owners had received a higher than intended Municipal Levy on 2023 Property Tax Notices. The Village of Radium Hot Springs apologizes for any inconvenience.
Council’s intention in budgeting for 2023 was a 5.5% increase in the 2023 Municipal Levy over 2022 amounts.
The grant-in-aid will be applied to the property tax accounts (folios) of property owners in the Village of Radium Hot Springs. The amount of each grant-in-aid will be calculated per property and based on BC Assessment Authority assessed values and property classes.
The following is an example of how the grant-in-aid will be calculated on an individual Class 01: Residential property:
Assessment Taxable Value x Proportionate Rate = grant-in-aid
$500,000 x .0004126 = $206.30
The Proportionate Rate was determined by property class — considering the overall reduction to property tax revenue — to result in the originally intended Village of Radium Hot Springs 5.5% 2023 Municipal Levy increase.
For additional clarification or confirmation on your specific grant-in-aid amount, please contact the Village Office at finance@radiumhotsprings.ca or (250) 347-6455 ext. 3.
Payments for property taxes (property tax notice amount due less grant-in-aid) must be made in full by July 4, 2023 to avoid penalty.
Village of Radium Hot Springs
