Despite some early grim predictions on property tax collection, BC local governments have reported collecting most property tax revenue receivables as of October 2020. With 36% of municipal governments reporting, the average collection rate was 92% while the median was 96% for all classes.
Only 22% of BC municipalities reported keeping July as the final penalty tax due date, while 14% have final penalty calculation due dates after October 1st. The latest penalty collection due date reported was December 15th. October collection rates also exceeded expected collections reported back in early July.
Thank you to all who participated in this questionnaire. The online Forum is a great place to continue the conversation.
If you have a topic for a future quarterly question please contact the office at office@gfoabc.ca or (250) 382-6871.