Property Tax Penalty

WHEREAS there is an increasing number of property owners who are habitually late with their property tax payment; AND WHEREAS the current 10 penalty for late taxes and the interest rate charged on arrears and delinquent taxes is not sufficient to encourage property owners to pay their taxes on time: THEREFORE BE IT RESOLVED that the Union of BC Municipalities request that the provincial government set: a For late payment of property taxes: i On properties that have no arrears or delinquent taxes a penalty of 10 on current taxes. ii On properties that have arrears taxes a penalty of 20 on current taxes. iii On properties that have delinquent and arrears taxes a penalty of 30 on current taxes. b The interest rate for overdue taxes, taxes in arrears and delinquent taxes at a rate of no less than 10 per annum, with interest being charged from the day they become overdue.