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Property taxes Salmon Arm
Posted in June's Kelowna Real Estate Blog on January 5, 2007
2007 Property Assessment Notices are mailed to all property owners in BC on December 31, 2006.
General property taxation is the single most important source of revenue for Local Governments. Each year, Council must project the net amount of funds required through property taxes to support local services. General municipal tax rates are set once the budget is approved. Property tax notices are mailed in mid-May for the calendar year of January 1 to December 31. 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.
Property taxes cannot be appealed. Only property assessments, on which taxes are based, are subject to appeal through the B.C. Assessment Authority. Therefore, it is important to review your annual assessment notice when you receive it from the B.C. Assessment Authority and report any concerns to them by January 31 of each year. Annual assessments notices from the B.C. Assessment Authority are mailed on December 31 for the subsequent year. In British Columbia, property assessments reflect market values effective July 1st of the preceding year. Follow the links to the BC Assessment website for more information* on property valuation and appeal deadlines.
*NOTE: Assessments and Sales by Address is offered from early January to March 15 each year during the property assessment appeal period.
Go to www.bcassessments.bc.ca
British Columbia Assessment Authority
#200 2899 – 30th Ave.
Vernon, BC V1T 8G1
Telephone: 1-800- 990-1191
Amended Assessments
If you are expecting a decrease in your assessment, it is likely that your total taxes payable will decrease too. The amount on the original property tax notice remains due and payable by the tax due date. If you have not paid your property taxes that are payable by the tax due date (as indicated on the original property tax notice), a penalty may apply to any unpaid tax amount if the amended assessment is not received by the City of Salmon Arm before the tax due date.
In 2007, the tax due date is July 4, 2007. A 10% penalty will be added if current taxes are not paid on or before the due date.
Go to the City of Salmon Arm website www.salmonarm.ca to view Payment Options for:
-City of Salmon Arm Tax Rate Bylaw
-Property Tax Deferment Program
-Property Taxes Paid by Mortgagor
-Property Tax Prepayment Plan
Or for more information please contact:
City of Salmon Arm
Tax Department
Box 40
Salmon Arm BC V1E 4N2
Telephone: 250-803-4000
Source: websites of City of Salmon Arm and BC Assessment Authority
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