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Property Taxes

June 17, 2016 | Posted by: Kelleway Mortgage Architects

Property Taxes Due in July
 
Our BC Property Tax Notice has a due date of July 4.  To avoid paying penalties, please check for your recent Property Tax Assessment and Notice to ensure any outstanding property taxes or adjustments are paid on time.  In BC, you will still need to apply for your Home Owner Grant and most municipalities now allow you to apply and pay online.

We advise all our clients to take advantage of the pre-pay monthly instalment option that most municipalities offer.   Where we live in Maple Ridge, it is an easy online process through the municipality website.  The benefits are:
 
1) we do not have to pay all the property tax in July in one lump sum payment,
 
2) the municipality credits us the interest earned on any pre-payments we've made and applies it to any outstanding amount,
 
3) the municipality automatically calculates any tax adjustments for us to pay or be reimbursed against future payments,
 
4) we apply online for the Home Owner Grant application process each year,
 
5) our payments are automatically adjusted and reset to monthly prepayments for the next year, and
 
6) we do not need to track or adjust taxes paid through a third party, such as a lender.

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