City of Surrey's 2021 - 2025 Financial Plan

TAXES, UTILITIESAND 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 2020 total tax rates, inclusive of all taxing authorities, (per $1,000 of assessed value) for the most common property classes are as follows: • Residential $3.46 • Business $7.30 • Light Industrial $6.38 Note: 2021 tax rates will be available in May 2021. 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 & Payment Services City of Surrey 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 13450 104th Avenue Surrey, BC V3T 1V8 604-591-4181

commercial properties. Through a voluntary

metering program, previously built

Surrey Biofuel Facility, City of Surrey

City of Surrey | 2021—2025 Financial Plan | Community Profile

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