Tax notices hitting local mailboxes

It’s the time of year nobody loves: property tax time. Tax notices for 2023 are in the mail and will be arriving this week to property owners in Kelowna.

This year’s notice includes a tax demand rate increase of 3.78 per cent, or an additional $7.20 a month, for the city portion on an average residential property tax bill in Kelowna. City taxes are only one part of a tax bill; the city collects levies for the province of B.C., the Regional District of Central Okanagan, Okanagan Library and B.C. Assessment Authority.

People who have a city property account registered have already received their notices by email.

Payments must be received by the city or electronically processed by financial institutions by Tuesday, July 4. A legislated 10 per cent penalty applies to late payments.

Monday, July 3 is a statutory holiday in lieu of Canada Day, so the city recommends making payments early.

If you’re trying to rack up points on your credit card, this year the city is accepting property tax payment by credit card. However, a 2.3 per cent transaction fee applies, and property owners should keep in mind that banks and credit card companies can take up to three business days to process payments.

Extensions on payments are no longer available. The B.C. Property Tax Deferment program is available to property owners who qualify. Find out more at gov.bc.ca/ propertytaxdeferment.

Eligible property owners must apply each year for the provincial Home Owner Grant before the July 4 deadline. The basic grant reduces the amount of property tax paid by $770. Some residents may qualify for an additional grant. For information and to apply, go to gov.bc.ca/homeownergrant or call 1-888-355-2700.