The BC Assessment Authority has issued 2021 property assessments to property owners across British Columbia this week.
According to the BC Assessment changes map by jurisdiction, residential property assessments in Cumberland (not including new growth) increased by 4.6% (compared to 6.4% in 2020) with the typical assessment value of a single family home at $524,000 ($493,000 in 2020) in Cumberland.
View a BC Assessment video on Understanding the Assessment Process and Property Taxes.
The Village has determined the revenue necessary to pay for community services in 2020 through its budget process, which will be completed if Council adopts its 2021 Financial Plan Bylaw on January 11, 2021. View highlights of the 2021 Cumberland five year financial plan in the Financial Plan Open House agenda from November 16, 2020. To collect the necessary revenue, the Village will set the 2021 property tax rate based on 2021 property assessment values. Cumberland Council is expected to consider property tax rates in April 2021.
A portion of the taxes collected from growth in 2021 will be invested in a reserve that will help pay for policing when the Village’s population reaches 5000 people, when the Village must pay 70% of policing costs.
Find out more about your property assessment from BC Assessment, including
If you’ve recently moved you can update your property information and change of address notification with BC Assessment.
If you haven’t received your assessment notice please contact 1-866 valueBC (1-866-825-8322).Search again