Cranbrook property owners will soon get their 2024 property tax notices in the mail, ahead of the July 2 due date.
Many residents will see a jump in their tax bill.
“The increase in the tax levy over 2023 is 8.32 per cent,” said chief financial officer Charlotte Osborne.
“For an average residential property in Cranbrook valued at $468,000, the increase to the tax levy results in an annual tax increase of $218 or $18.17 per month.”
Property owners can get some relief on their municipal property tax through the Homeowner Grant.
This application must be made online through the B.C. government website, by calling 1-888-355-2700 or in person at a Service BC office.
Cranbrook officials emphasize that the city does not accept homeowner grant applications.
Taxes are due on Tuesday, July 2 for all property types, any outstanding amount after that date will be subject to a 10 per cent penalty.
“If you are making payment in person at City Hall, non-cash payments are preferred. We do accept postdated cheques, debit card, and credit card payments,” said city staff. “Payment may also be made by telephone/online banking and through most financial institutions.”
The city has introduced an online portal where you can make payments with a credit card and see your bills and when they are due.
Officials said a 2.4 per cent convenience fee is applied to all credit card payments.
Those on the pre-authorized payment program will have their June 15 amount included in their pre-payment amount.
You should still look over your tax assessment, even if you are on automated payments.
“As your prepayment amounts were based on an estimate, there may still be a balance owing,” said city staff.
“To avoid a penalty, please review your Tax Notice carefully and make sure you pay any outstanding balance prior to July 2.”
Any overpayment will be applied to next year’s tax bill.
“If you are interested in enrolling in the monthly pre-authorized payment plan, please contact the Finance Department at 250-489-0233 to obtain an application form,” said city officials.
“Monthly tax payments are withdrawn from your bank account by pre-authorized debits on the 15th of each month, starting in July 2024 for the 2025 taxation year.”
Those who need financial assistance can apply for the province to pay their property taxes on their primary residence through a low-interest loan.
There are some qualifications that must be met in order to apply, however.
You can find more resources on property tax payments through the link below.
More: City of Cranbrook website
More: B.C. government property tax deferral program.
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