Property TaxesProperty taxation is the single most important source of municipal revenue. The amount of money that is to be raised through property taxes is based on the budget (Financial Plan) approved by Council each year. A share of the total revenues required to fund operations is collected from each taxable property within the Town, based on the assessed value of the property. Please note that only about half of the funds collected through the property tax notice are Town revenues. Please refer to the information about other agencies included on the tax notice here.
PROPERTY ASSESSMENT (VALUATION)
BC Assessment is an independent body that provides market value information on the properties to be taxed within the Town of Sidney. Notices of assessed values are mailed to each property owner at the end of December. These values may be appealed to the Property Assessment Review Panel (through BC Assessment) no later than January 31st. For further information regarding property assessments, please refer to the BC Assessment website.
The values provided annually by BC Assessment are used to determine the tax rates that will generate the revenue required for Town operations, as determine in the Financial Plan. Please click here to see the presentation from BC Assessment that was made to the Town on November 21, 2016.
TAX NOTICES AND RATES
Tax notices are mailed out near the middle of May, with payment due by the first business day in July.