Coldstream Municipal Office (photo credit: Vernon Matters file photo)

By Kevin Rothwell

No late payment option

Coldstream council sets 2021 tax rate

Apr 27, 2021 | 5:00 PM

Coldstream council has given three readings to the 2021 tax rate which calls for an increase in taxation of 1.4 per cent.

The general municipal and debt rates are established based on the revenue requirements from the 2021-2025 Financial Plan which was adopted on April 12, 2021.

For the average residential home assessed at approximately $670,000 (5.45 per cent increase over 2020), it is estimated they will pay an additional $33 for the municipal tax portion, or $0.60 per week, based on the 2021 BC Assessment Revised Roll.

The rates for the Regional District of North Okanagan, Regional Hospital District and Regional Library are based on the requisitions received from each of these entities.

Council also voted to revert back to the previous collection scheme, after allowing home owners to extend the payment date in 2020 as a COVID-19 relief measure. Taxes this year must be paid by July 2, or a ten per cent penalty is incurred.

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“I don’t support going back to the regular way. I think an extra year would be wise to leave in there, just in case there are people that want to defer their taxes for a period of time,” Coun. Glen Taylor said.

Over 90 per cent of rate payers paid their taxes on time in 2020.