August 18, 2015 - 4:30 PM
KELOWNA - All in all, we’re a pretty honest bunch if measured by how promptly we pay our property taxes.
“We do have some people who don’t like having to pay but the majority of people are really good about it,” financial planning manager George King says.
Property taxes totalling $226.7 million were due by July 2 and 96 per cent of it — about $217 million — was paid by the deadline, King adds.
The success rate was lower for the second tax deadline of Aug. 4, when an additional $9.6 million came due. Less than half of that amount, $4.7 million, came into the city’s coffers.
King isn’t too worried about it though, as most of that money will come in before next July’s tax deadline.
There is just $748,000 of property taxes considered delinquent, meaning three years late, with the owners facing possible tax sale of their property. There is an additional $950,000 in arrears from 2014.
Property owners who miss the first tax deadline face an initial five per cent penalty and an additional five per cent for missing the second deadline. The penalities are non-negotiable and legislated under the Local Government Act.
The city retains 58 per cent of property taxes collected, while disbursing the balance to the Okanagan Regional Library, the Central Okanagan Regional District, the hospital district, B.C. Assessment Authority and the Central Okanagan School District.
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News from © InfoTel News Ltd, 2015