Property tax in British Columbia is levied on the value of land and buildings. There are no property taxes on the value of inventory, machinery and equipment, or other tangible goods. The Municipality collects all property taxes, including the portions that are allocated for schools, hospitals and the regional district. Taxes are calculated by applying the tax rate (mill rate) to the assessed value of land and buildings as determined each year by B.C. Assessment. Kimberley also has a residential flat tax of $686 for land with buildings and $275 for land with no improvements. As well, in 2006 the City of Kimberley implemented a $100 parcel tax for the capital and operational costs of the new Aquatic Centre. In 2010 this parcel tax rose to $146.
Property Tax Comparison (2010)|
Municipality |
Class 1
Residential |
Class 5
Light Industry |
Class 6
Business |
Class 8
Recreation/ Non-Profit |
|
Invermere |
6.0851 |
18.8380 |
17.9410 |
7.3869 |
|
Kimberley* |
6.5399 |
16.0158 |
25.5734 |
17.1006 |
|
Golden |
7.7224 |
25.9943 |
21.6874 |
9.0242 |
|
Fernie |
7.5385 |
23.8965 |
19.3061 |
8.5363 |
|
Cranbrook |
8.7668 |
26.4643 |
26.2365 |
15.0083 |
*Kimberley also has a residential flat tax of $686
for land with improvements (buildings) and $275 for land with no
improvements.
Sources: B.C. Ministry of Community Services
Because the total amount of property tax paid is affected by land values in each community, a comparison of tax rates does not reveal the whole story. The next table compares total residential taxes and charges (including municipal fees for things like water, sewer and libraries) for a representative house.
Total Residential Taxes and Charges on a Representative House, 2010|
Golden |
$2,504
|
|
Kimberley |
$3,143
|
|
Cranbrook |
$3,049
|
|
Fernie |
$3,512
|
|
Invermere |
$3,606
|
Sources: B.C. Ministry of Community Services
