Government Finance Officers
Association of British Columbia
MyAccount
Monday, March 16, 2020

We received responses from local governments of varying populations from across the province from the City of Vancouver to the Village of Lytton. It appears that charging for folio listings requested by mortgage companies is practiced by most local governments, with more than 60% reporting the practice.

The amount local governments charge for folio listings varies significantly.

Mean when “$0.00” responses removed $12.10
Highest fee reported 50.00
Lowest fee reported   5.00

 

Tax Credit Refunds
Local governments tend to hold overpayments unless a refund is requested. The survey found that the majority, or roughly 70%, of local governments do not refund overpayments without a request. The remainder reported automatically refunding without request. Of these same local governments 44% alert the property owner when a credit exists on the property’s account, and 56% do not unless solicited. Charges exist in many instances to obtain the refund and can range from a fee of free to $100.00 for the service. 34% of local governments report charging an average fee of $28, while the remaining 66% do not charge a fee.

The next quarterly question is “Credit Card Payments…What’s Your Practice?

Please use this link to be a part of the results. The survey should only take about 3 minutes to complete.

Previous quarterly question: NSF Fees…What’s the Standard?

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