This page was last reviewed on December 13, 2019.
Property taxation is the most important single source of revenue for municipalities.
Find out what projects are taking place over the next few years.
In November 2019, proposed tax and utility increases for 2020 for existing 2019 ratepayers are:
- Municipal taxes is 4.62%
- Utility fees is 1.96%
- Frontage taxes is 9.6%.
The projected (in 2019) municipal taxes and utility revenue increases (includes growth*) for the years 2021 to 2024 is shown in table below. View the staff report for the November 25, 2019 Council meeting.
* includes growth, actual increases to existing rate payers each year is expected to be less
Cumberland Council sets the amount of revenue to be collected through property taxes and sets tax rates through a tax rates bylaw each year by May. Find out how to pay your property taxes and how to apply for a homeowner grant.
Approximately half of residential taxes collected are retained by the Village. The other half is collected for and transferred to other agencies for school, library, policing, hospital and other regional services. View the Comox Valley Regional District brochure on services and taxes.
Property Value Assessments
The value of property for tax purposes is determined by the BC Assessment Authority, which is established under Provincial legislation and is independent of the Village of Cumberland. Municipalities are not involved in determining assessed values. View the BC Assessment website or contact 1-866 valueBC (1-866-825-8322) to find out more or to appeal your property value assessment.
How Tax Rates are Determined
Each spring, the Village develops an annual budget and a five year financial plan. This budget determines the amount of revenue required to be raised through property taxes and other sources in order to fund the budget. This, together with the assessed value of the taxable properties, determine the tax rate. Tax rates are expressed in “dollars per thousand”.
To determine the municipal property taxes payable for an individual property, find your total property assessment, divide it by 1,000, then multiply it by the 2019 applicable tax rate for your class of property.
The proposed financial plan and tax rates are presented for community feedback – usually in February or March – before they are considered for adoption by Council.
Summary of Property Taxes 2013 to 2017
The following table shows approved property tax revenues and tax rates from 2013 to 2017. It does not include tax revenues collected by the Village for other agencies.
for Village of Cumberland
|Year||Total Taxes||Growth||Taxes from Existing Taxpayers||Municipal Tax Rates||Total Tax Rates *|
|2017||$ 2,379,140||$ 25,237||$ 2,353,903||4.1513||8.3824|
|2016||$ 2,266,105||$ 39,618||$ 2,226,487||4.3482||9.0801|
|2015||$ 2,146,365||$ 47,210||$ 2,099,155||4.2417||8.8910|
|2014||$ 2,058,010||$ 1,572||$ 2,056,438||4.3008||8.9499|
|2013||$ 2,041,118||$ 67,333||$ 1,973,785||4.2984||8.8503|
|Note (*): Tax rates includes rates for all taxing authorities (i.e. school, regional district etc.)|
The proposed financial plan and tax rates are presented to the community at a spring Village Hall meeting for feedback. Final tax rates are adopted by Council by bylaw before May 15 each year
Property tax notices are mailed to property owners in late May or early June each year. It is the responsibility of the property owner to pay property taxes by the due date in order to avoid a penalty whether or not a bill was received. Please contact the Village office at 250-336-2291 if you have not received a tax notice.
The property tax payment deadline is on July 1st each year, unless that day is a holiday – then the deadline is the first business day after July 1st. Remember to pay your property taxes and apply for your homeowner grant by the deadline to avoid a 10% penalty.
Collection for Other Taxing Agencies
Much of the funds collected as property taxes by the Village of Cumberland are levied by other taxing authorities such as
- School District #71
- Comox Valley Regional District,
- Regional Hospital
- Vancouver Island Regional Library,
These levies support services delivered within Cumberland and the region, but the amounts of these levies are outside the control of Village Council.Search again