It’s June which means City of Kamloops tax notices are out and property tax payments are due before July 2/2024. For some of you and many of my clients – this may be your first year paying property tax.
If you have not had a chance to look at your tax notice, I recommend first ensuring that the details on the tax notice match your property address. Review the tax notice and carefully check the details – is the taxed value the same as the assessed value you receive from BC Assessment in the spring? The next step is determining if you are eligible to claim the home owner grant (HOG) which reduces the amount of property taxes you pay each year on your principal residence. To view a sample tax notice, please click here.
In order to qualify for any of the grants you must be:
- A registered owner of the residence
- Be a Canadian citizen or permanent resident of Canada
- Live in BC
- Occupy the residence as your principal residence
- The assessed value of your home must not exceed the grant threshold
- Ensure you meet the additional requirements if you are buying or selling your property
The basic home owners grant for the City of Kamloops is $770.00. If your property is assessed at $2,150,000 or less and you meet certain requirements, you will receive the full grant amount; properties assessed over that amount may receive a partial grant.
You may claim your City of Kamloops Home Owner Grant online here!
If you or someone you know is financially struggling, there is a BC Property Tax Deferment Program. This is a low interest program that helps BC homeowners pay their property taxes – on principal residences only. More information about that program can be found here. Applicants that fall under these categories may be eligible:
- 55 or older
- A surviving spouse of any age
- A person with disabilities
- Family with children;
Don’t forget about your taxes and make sure to claim your Home Owner Grant before July 2nd!
Did you know about the City of Kamloops TIPS Program?
The Tax Installment Plan Services is an optional payment plan for taxpayers to make monthly prepayments towards their property taxes for the next year. Home owners will still apply for their Home Owner Grant separately but the Property Tax Notice will show a credit from ‘tax prepayments’ towards the final total still due.
This may be of great assistance to households who find it easier to budget or find it less stressful to continually contribute throughout the year as opposed to one large lump sum in June.
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