Quarterly Question

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property taxes…what is the trend?

Prior to COVID19, two thirds of municipalities reported 2019 property tax increase that exceeded those in 2018.

For many communities, the pandemic brought economic uncertainty. In early 2020, many municipalities adjusted tax rates and tax collection time frames. Two communities reported offering a tax break in 2020 that was reversed for 2021. In one instance, the tax cut for 2020 was 30%. Half of the municipalities reporting still reported a rate increase for 2020 while a third chose to move to zero increase for 2020.

BC Assessment reports that the average 2020 assessment increase for the province was 4.2% including all property types. The Village of Tahsis showing the largest average assessment roll increase at 36%.

Despite some initial concerns over economic slowdowns and taxpayer’s ability to pay during the pandemic, according to responses of the most recent poll, there was little change in the number of citizens accessing property tax deferral programs, with some communities reporting a decrease for 2020.

quarterly? ques on

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