Own property in Kelowna, B.C.? Your 2022 tax notice is in the mail and should arrive this week.
That’s according to the City of Kelowna, which says payments must be received by Monday, July 4, to avoid a 10-per cent penalty for late payment.
The city also issued this reminder: That banks and credit card companies may take up to three business days to process payments, and that Friday, July 1 is Canada Day — a statutory holiday.
Also on this year’s tax notice is a tax rate increase of 3.94 per cent. For the average homeowner, that translates into an increase of $86.47.
“City taxes are only one portion of a property tax bill, which also includes other levies the city collects on behalf of the province of B.C., the Regional District of Central Okanagan, Okanagan Library and B.C. Assessment Authority,” the city said.
“Property taxes are not increased proportionately to property value increases. They are calculated based on what is needed to balance the city’s budget for any particular year.
“Last year, the city’s overall tax demand was $157.7 million. This year, it is $167.1 million. The tax increase covers that difference minus the city’s other revenue sources.”
The city says general municipal taxation accounts for approximately 25 per cent of the city’s operational revenues.
To avoid potential lineups when paying your tax bill this year, the city recommends the following:
- By cheque, using the drop box located at the main doors at city hall
- By mailing cheques to city hall (post-dated cheques are accepted; however, a postmark date is not considered the date of payment)
- Through online or telephone banking with a financial institution
- In-person at your financial institution
- Third-party credit card payment companies
The city also says B.C.’s Property Tax Deferment program is available to those who qualify.
In related news, the city said residents who have a registered property account have been able to access their tax notice since May 16.
The city says the free account also allows property owners to view their assessment, balance and financial transaction information online.