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Property Taxes

Property 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 on our Taxes for Other Agencies page.

2020 Property Tax Distribution Policy Review

The Town reviews policies relating to the distribution of property taxes between the various classes of property on a regular basis. The current review began with an introductory presentation and report to Council during the October 19, 2020 Committee of the Whole meeting. Both the report and presentation provide an overview of the key issues to be considered, and will serve as the basis for a thorough discussion around tax distribution.

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.