Property taxes

BC Seniors Advocate Isobel Mackenzie is urging senior homeowners struggling with the rising costs of living and aging to consider deferring their 2023 property taxes. Photo: Lia Crowe

B.C. senior homeowners encouraged to consider property tax deferral

Eight out of ten seniors in B.C. are homeowners with modest or low incomes …

 

Office towers, condos and apartment buildings are seen in downtown and the west end of Vancouver, on Thursday, January 19, 2023. British Columbia is expanding the tax it created to clamp down on real estate speculation and ensure homes in rental-strapped communities don’t sit empty. A statement from the Ministry of Finance says the Speculation and Vacancy Tax now includes the municipalities of North Cowichan, Duncan, Ladysmith, Lake Cowichan, Lions Bay and Squamish. THE CANADIAN PRESS/Darryl Dyck

B.C. extends reach of property tax aimed at turning empty houses into rental homes

Finance Ministry says speculation tax now includes the North Cowichan, Duncan, Ladysmith, Lake Cowichan, Lions Bay and Squamish

 

Kootenay Careeer Development Society bought and renovated the building at 1499 Bay Ave. in 2019. The society took over the WorkBC contract for the Lower Columbia on April 1 that year. Photo: Trail Times

Trail council: PEERS presents, residents amplify concerns

Four people address Trail council in-person during public question period

 

The best time to apply for the grant is in May after homeowners have received both their BC Assessment notice and their municipal property tax notice. Photo: Unsplash

Homeowner grants remain unchanged for West Kootenay

Assessment roll and jurisdiction numbers are needed to apply

The best time to apply for the grant is in May after homeowners have received both their BC Assessment notice and their municipal property tax notice. Photo: Unsplash
Snow-covered houses and the downtown skyline are seen in Vancouver, B.C., Wednesday, Nov. 30, 2022.The British Columbia government is boosting the homeowner grant threshold to $2.125 million for this year as average property values increase by 12 per cent.THE CANADIAN PRESS/Darryl Dyck

B.C. government increases homeowner grant limit as home values rise by 12 per cent

Highest valued home in the province is a $74 million Vancouver waterfront compound

Snow-covered houses and the downtown skyline are seen in Vancouver, B.C., Wednesday, Nov. 30, 2022.The British Columbia government is boosting the homeowner grant threshold to $2.125 million for this year as average property values increase by 12 per cent.THE CANADIAN PRESS/Darryl Dyck
Still from Chilliwack Realtor Kevin Schroeder’s January 2022 Instagram video where he explains how BC Assessment increases in property value have no impact on property taxes. (Instagram @kevinschroederrealtor)

OPINION: B.C. Realtor’s explanation how property assessment increases do not affect taxes

Because it’s important, a 2nd look at Kevin Schroeder’s Instagram video on how property taxes work

Still from Chilliwack Realtor Kevin Schroeder’s January 2022 Instagram video where he explains how BC Assessment increases in property value have no impact on property taxes. (Instagram @kevinschroederrealtor)
Snow-covered houses and the downtown skyline are seen after a snowstorm, in Vancouver on November 30, 2022. British Columbia’s property assessment agency is warning homeowners that figures released next month will likely be higher than the current market value.THE CANADIAN PRESS/Darryl Dyck

B.C. property assessments higher, but market has changed: assessor

Homeowners warned they are about to receive assessments that won’t reflect current values

Snow-covered houses and the downtown skyline are seen after a snowstorm, in Vancouver on November 30, 2022. British Columbia’s property assessment agency is warning homeowners that figures released next month will likely be higher than the current market value.THE CANADIAN PRESS/Darryl Dyck
Read the regional ‘2021 Review’ at rdkb.com. Image: rdkb.com

Report gives financial snapshot of Kootenay-Boundary

The online document is highlighted by attention-grabbing imagery of the region

Read the regional ‘2021 Review’ at rdkb.com. Image: rdkb.com
Rossland property taxes must be received at City Hall by 4 p.m. on July 4 or residents will incur a 10 per cent penalty

Rossland property taxes due

City of Rossland is reminding residents to pay their property taxes before July 4 deadline

Rossland property taxes must be received at City Hall by 4 p.m. on July 4 or residents will incur a 10 per cent penalty
The application window for seniors to apply to defer property taxes is between May 1 and Dec. 31, 2022. Photo: Unsplash

Property tax deferral option opens for B.C. low-income seniors

The City of Trail mailed out property tax notices last week

The application window for seniors to apply to defer property taxes is between May 1 and Dec. 31, 2022. Photo: Unsplash
Alternative minimum tax (AMT) is a separate method of tax calculation made by Canada Revenue Agency (CRA) that runs in parallel with a taxpayer’s regular income tax calculation.

Looking at the alternative minimum tax calculation

An AMT amount paid can be carried forward and credited up to seven years …

  • Mar 24, 2022
Alternative minimum tax (AMT) is a separate method of tax calculation made by Canada Revenue Agency (CRA) that runs in parallel with a taxpayer’s regular income tax calculation.
Victoria council, meeting as committee of the whole, will consider a motion on a voluntary reconciliation tax. (Black Press Media file photo)

B.C.’s capital considering voluntary Indigenous reconciliation tax for property owners

Under Victoria proposal, city taxpayers would have option to add contribution to area First Nations

Victoria council, meeting as committee of the whole, will consider a motion on a voluntary reconciliation tax. (Black Press Media file photo)
“You may even be confident that you know the definition of “non-arm’s length.” However, what you may not appreciate is this, depending on who is defining that term, the inclusion or exclusion of certain people as “non-arms length” person may vary.”

Rules of the taxman when transferring assets to a relative

“As usual with CRA rules, there are exceptions.”

  • Mar 17, 2022
“You may even be confident that you know the definition of “non-arm’s length.” However, what you may not appreciate is this, depending on who is defining that term, the inclusion or exclusion of certain people as “non-arms length” person may vary.”
The best time to apply for the grant is in May after people have received both their BC Assessment notice and their municipal property tax notice. Photo: Unsplash

Homeowner grants remain unchanged for West Kootenay

Assessment roll and jurisdiction numbers are needed to apply.

The best time to apply for the grant is in May after people have received both their BC Assessment notice and their municipal property tax notice. Photo: Unsplash
BC Assessment reports price of houses rise 32 per cent in Rossland from 2021. Photo: Jim Bailey BC Assessment reports price of single family home rises 32 per cent in Rossland from 2021. Photo: Jim Bailey

Report shows marked increase in price of Rossland property

Golden City’s average price of family home highest in Greater Trail

BC Assessment reports price of houses rise 32 per cent in Rossland from 2021. Photo: Jim Bailey BC Assessment reports price of single family home rises 32 per cent in Rossland from 2021. Photo: Jim Bailey
This home at 2357 Cornwall Drive was sold by the city for $150,000 at auction. It was assessed at $420,000. BC Ombudsperson filed a report saying the city failed to help a vulnerable person and sold her home over not paying $10,000 property tax. (Logan Lockhart Western News)

Update: Penticton to pay $140K to vulnerable woman who lost home over unpaid taxes

Mayor offers apology to woman who lost her home to the city after not paying $10K in taxes

This home at 2357 Cornwall Drive was sold by the city for $150,000 at auction. It was assessed at $420,000. BC Ombudsperson filed a report saying the city failed to help a vulnerable person and sold her home over not paying $10,000 property tax. (Logan Lockhart Western News)
City of Penticton is being called out for evicting and selling a vulnerable woman’s home at auction for not paying $10,000 in property taxes. (File photo)

Penticton should repay vulnerable woman after home sold to pay property tax: B.C. Ombudsperson

The City of Penticton sold the home after the woman was unable to pay $10,000 in taxes

City of Penticton is being called out for evicting and selling a vulnerable woman’s home at auction for not paying $10,000 in property taxes. (File photo)
The Rossland Royal Canadian Legion and several other groups received a permissive tax exemption from council. Photo: Jim Bailey

Rossland council decides on tax exemptions

Council made several difficult decisions on what groups were awarded permissive tax exemptions

The Rossland Royal Canadian Legion and several other groups received a permissive tax exemption from council. Photo: Jim Bailey
A real estate sold sign hangs in front of a Canadian property Friday, Nov. 4, 2016. THE CANADIAN PRESS/Graeme Roy

W-shaped recovery would be ‘very severe’ without government assistance: CMHC

The corporation says the COVID-19 pandemic could trigger nearly 50 per cent drop in housing prices

A real estate sold sign hangs in front of a Canadian property Friday, Nov. 4, 2016. THE CANADIAN PRESS/Graeme Roy
One of the highest jumps was in Salmo, where homes went up 19 per cent from $225,000 on average to $268,000. Photo: Black Press

Across the board; Greater Trail house values are up

Majority of Kootenay Columbia homeowners can expect a moderate increase in their 2021 assessments

One of the highest jumps was in Salmo, where homes went up 19 per cent from $225,000 on average to $268,000. Photo: Black Press