COS Financial Plan 2018 - 2022

COMMUNITY PROFILE TAXES, UTILITIES AND ASSESSMENTS

TAXES The Property Tax and Utilities section generates property tax and utility bills using the current tax and utility rates approved by Council and the assessed market values provided by BC Assessment. Tax rates are based on the use of the property. The section is also responsible for collecting taxes for other authorities such as the Greater 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. The 2017 tax rates (per $1,000 of assessed value) for the most common uses are as follows:

 Residential $3.46  Business $12.44  Light Industrial $12.21 *2018 tax rates will be available in May 2018.

Surrey property taxes are due on July 2nd each year. 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 Tax and Utilities Section 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 billed on the Property Tax Notice. In 1998, the City introduced water metering to all newly constructed residential and commercial properties. In 2000, a voluntary metering program began, which allowed for previously built residential properties to have meters installed on request. The majority of single family homes now have a water meter and all commercial and industrial properties are metered. Currently, there are over 65,600 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.

Annual flat rate utility accounts are billed in late February and are due by April 2nd of each year. Late payments are subject to a 5% penalty if not paid by April 2nd and a further 5% penalty if not paid by July 2nd.

Metered utility accounts are billed every four months (three times a year) and are based on a meter consumption. Payments are due by the 2nd of the following month and late payments are subject to a 5% penalty.

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2018-2022 Financial Plan

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