In order to ease the financial burden on the community, the District has reduced the overall 2020 tax increase from 2.88% to 1.44% (1.65% for residential and 0.95% for business). For residential properties, this will cut the tax increase in half to an average of $21 (from $42). For business properties, this will reduce the tax increase to an average of $175.
The District is also postponing the penalty dates for property tax payments. While the due date for property taxes remains July 2, residential and farm properties have until August 1, 2020 before a 3% penalty is applied. An additional penalty of 7% will be applied to unpaid balances on October 1, 2020. The penalty date for commercial properties in classes 4 thru 8 has been extended to October 1, 2020, at which time a 10% penalty will be applied.
The District had previously announced the deferral of the $50 water infrastructure replacement tax increase and waiving utility fee late payment penalties for the February 24, 2020 billing cycle and extending the payment deadline of the June billing from July 31 to September 30, 2020.
For budget highlights, visit northsaanich.ca/budget