City of Surrey's 2024-2028 Financial Plan

TAXES, UTILITIES AND ASSESSMENTS

TAXES The Property & Payment Services section generates property tax notices using the current tax rates approved by Council and the assessed market values provided by BC Assessment. Tax rates are set based on property class as prescribed by Provincial legislation. These tax rates are then applied to the assessed property values provided by BC Assessment to arrive at the property tax levy amount for each property in the City. The section is also responsible for collecting taxes for other authorities such as the Metro Vancouver Regional District, the Municipal Finance Authority, BC Assessment, the BC Ministry of Finance (School Tax), and TransLink. Each taxing authority within the region sets its own tax rates, which are then also applied to the assessed property value. The 2023 total tax rates, inclusive of all taxing authorities, (per $1,000 of assessed value) for the most common property classes are as follows: • Residential $ 2.76 • Business $ 8.06 • Light Industrial $ 6.69 Note: 2024 tax rates will be available in May 2024. Surrey property taxes are due on July 2nd each year. If July 2nd falls on a weekend or Statutory holiday, then the due date would be on the next business day. Late payments are subject to a 5% penalty if not paid by July 2nd and a further 5% penalty if not paid by September 2nd.

Property & Payment Services City of Surrey

13450 104th Avenue Surrey, BC V3T 1V8 604-591-4181

UTILITIES Utility charges for water and sewer are billed on a utility bill, separate from utility charges for waste collection, which are also generated and billed on the property tax notice. Starting in 1998, the City introduced water metering to all newly constructed residential and commercial properties. Through a voluntary metering program, previously built residential properties were able to have meters installed on request.

This has resulted in the majority of single family homes now having metered water and most commercial and industrial properties being metered. Currently, there are over 73,000 water meters installed throughout the City. This is a giant step towards a full “user pay” system. Water and sewer utilities for residential properties are classified in two billing categories, metered and annual.

Disposal Bins placed on the curbside

City of Surrey | 2024—2028 Financial Plan | Community Profile

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