Property taxes are the main source of revenue the Village of Warfield uses to be able to provide the many services that are provided to the public. Taxes to be collected are determined in the 5-Year Financial Plan. Tax rates are determined by the property value assessed and guidelines in the Tax and Revenue Policy contained in the Financial Plan.
How is Your Property Assessed?
The BC Assessment Authority is a provincial Crown corporation that determines the market value of all real properties in British Columbia. To find out more about how this process works, go to their website. The assessed value determines what the taxation will be for a property. If you disagree with your assessed value, you have a limited time to appeal to the BC Assessment Authority. Details on how to appeal are included on your assessment notice.
Tax Payment Information
Property taxes are due on the first working day in July, after the July 1st holiday. Payment can be made by mail or in person at Village of Warfield Office. Payment may be in the form of cash, cheque or debit card. Credit Cards are not accepted.
If taxes are paid through your mortgage or financial institution, the Home Owner Grant claim must still be completed and returned to Village of Warfield Office or applied for on-line. Cheques post-dated to the due date will be accepted at Village of Warfield Office. Your cancelled cheque is your receipt. Please note that postmarks on mailed remittances will not be considered as date of payment.
Monthly Tax and Utility Prepayment Plan
The monthly tax and utility prepayment plan introduced by the Village of Warfield in 2000 has proven to be quite successful. Approximately 100 taxpayers are taking advantage of the plan while they enjoy the benefit of all discounts offered and in addition their payments have earned interest at better than saving account rates. Council encourages all taxpayers who are not signed up to consider participating.
The Plan is due to start annually on July 15 to pay for the following years’ taxes and utilities.
THE PLAN DOES NOT COVER TAXES IN ARREARS, WATER OR GARBAGE RATES; ALL CURRENT YEAR CHARGES MUST BE PAID IN THE SAME MANNER AS IN PREVIOUS YEARS.
Property Tax Links
Property Tax Downloads
Monthly Tax and Utility Prepayment Plan FAQ’s
Can I reduce my monthly payments?
Yes, but the monthly payments must not be less than $50.00. Can I increase my monthly payments? Yes, but only within reason. The monthly payment can be increased if the taxpayer feels that the amount will not provide sufficient funds to pay the following year utility rate and property tax levies (net of Rural Home owner Grant).
Can I change my monthly payment after the plan has started?
Yes, a written request will be required to document the change and the same conditions apply; that is the monthly payment must be within reason and the monthly payment can be increased or decreased provided the payment is not less than the $50.00 monthly.
What about my Home Owners Grant?
It is most important that all participants in the plan understand that the current year Rural Home Owners Grant must be claimed prior to the tax penalty due date or a penalty will apply.
How will the monthly tax prepayment amount be calculated?
The total of the current year property tax levies and utility charges will be increased by 10% and then reduced by the Rural Home Owner Grant, if applicable. This amount will then be divided by 12 and rounded up to the next whole dollar to get 11 equal monthly payments, with the 12th payment being the responsibility of the taxpayer. When the taxpayer receives their tax notice, they should pay the amount shown as owing and claim the homeowner grant, if eligible, prior to the penalty date.
Can I make one lump-sum payment?
No, the purpose of the plan is to enable taxpayers to budget their property taxes over the year.
Can I stop the plan?
Yes, the plan may be stopped at any time by notifying the Village in writing. This is important since we will continue to draw payments from your account until advised otherwise. The amounts collected to date will continue to accrue interest. The accrued interest will not be refunded but remains with the tax account to be credited against the following year tax levies.
Will a T5 income tax slip be issued for the discount (interest)?
No, current interpretation by Revenue Canada views the credit as a discount against the tax levy, provided total payments plus discount (interest) does not exceed the tax levy and as such the discount (interest) is not taxable. Excessive tax prepayments installments will not be accepted. The taxpayer concerned about this matter should obtain independent advice.
What interest rate (discount) will I receive?
Interest will be paid from the date funds are withdrawn from the taxpayers’ bank or credit union account to the tax penalty date. The interest rate will be set by the Ministry of Community, Sport and Cultural Development of the Province of BC.
Can I have payments taken off more often than once a month or on a date other than the 15th of the month?
Sorry, the administration costs involved require that we have one standard payment date each month.
Can I set the tax prepayment plan up with any financial institution?
The plan can only be set up with a credit union because other financial institutions apply service charges. Another alternative method of payment would be post-dated cheques, made payable to the Village of Warfield. Please contact Village staff on payment methods available to avoid bank service charges.