Property Taxes and Home Owner Grants
This page was last reviewed on December 15, 2022.
Property taxes are due to the Village of Cumberland on the first business day of July each year.
You are responsible to ensure your taxes are paid in full by the deadline regardless if you receive a tax notice or if a third party, such as your mortgage institute, is paying on your behalf. Failure to pay or claim your residential home owner grant, if eligible, by this deadline will result in a 10% penalty.
Late Payment Penalties
Taxes not received by the deadline are subject to a 10% penalty. Apply for your home owner grant before the deadline to avoid penalties on that amount. You can also make partial payments.
Taxes left unpaid at December 31 will begin to accrue interest.
Are you new to Cumberland and didn’t receive a property tax notice?
Find out how to update your address and property information. Please contact the Village office if you did not receive a tax notice.
My mortgage holder pays my taxes. How do I know it will pay the correct amount?
Your best bet is to contact your mortgage holder to confirm the amount it is paying on your behalf.
The Village provides mortgage companies with a list of taxes payable, however the amount paid is determined by agreement between you and your mortgage company. You will need to confirm with your mortgage company whether you are claiming a Home Owner Grant and the type of grant you plan to claim.
Typically these companies provide payment to the Village close to the tax deadline. The Village will not have information on payment before the payment is made.
Home Owner Grant Application
As of 2021, all home owner grant applications are submitted directly to the province. Residents will no longer apply through the Village of Cumberland. For more information on Home Owner Grant, please visit Home Owner Grant – Province of British Columbia.
You can apply for your home owner grant regardless of whether you are able to pay your taxes in order to reduce the 10% penalty that is assessed on the balance of taxes owing after the deadline. Your mortgage company cannot apply on your behalf, so please submit your application regardless if a third party is paying your taxes.
Find more information about property tax relief programs for your principal residence from the Province of BC Home Owner Grant Program.
For information on making changes to your submitted Home Owner Grant application, please visit the following information page from the Province of BC.
Tax Deferment Programs
You may be eligible for the Provincial Tax Deferment Program or the Families With Children Property Tax Deferment Program.
For more information on these programs read more on the Ministry of Finance’s web site or drop into the Village Officer where staff can assist you.
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 year, the Village develops an annual budget and a five year financial plan. The five year financial plan is presented for community feedback before it is considered for adoption by Council.
This plan 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, determines the tax rate.
Tax rates are expressed in “dollars per thousand” in the annual tax rates bylaw. 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 applicable tax rate for your class of property.
Property taxation is the most important single source of revenue for municipalities.
Find out what projects are taking place over the next few years.
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