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Volume 46, No. 24

B.C. Reg. 426/2003

The British Columbia Gazette,

Part II

December 2, 2003

B.C. Reg. 426/2003, deposited November 28, 2003, pursuant to the COMMUNITY CHARTER [Sections 199, 234 (2) and 239 (2)] and the LOCAL GOVERNMENT ACT [Sections 411 (3) and 423 (3)]. Order in Council 1111/2003, approved and ordered November 27, 2003.

On the recommendation of the undersigned, the Lieutenant Governor, by and with the advice and consent of the Executive Council, orders that

(

a) the Municipal Act Tax Regulation, B.C. Reg. 62/84, is repealed,

(

b) the attached Municipal Tax Regulation is made,

effective on the date that

section 239 of the Community Charter comes into force. — G. ABBOTT, Minister of Community, Aboriginal and Women's Services; C. CLARK, Presiding Member of the Executive Council.

MUNICIPAL TAX REGULATION

Interest on overpayment of municipal taxes

(1) The following rules apply to interest payable under

section 239 [interest on overpayment of taxes] of the Community Charter:

(

a) the interest is payable from the later of

(

i) September 1 of the year in which the taxes are due, and

(ii) if the tax payment is made after July 2 of the year in which the taxes are due, the 61st day after the payment is made;

(

b) the interest rate, during each successive 3 month period beginning on April 1, July 1, October 1 and January 1 in every year, is 2% below the prime lending rate of the principal banker to the Province on the 15th day of the month immediately preceding that 3 month period;

(

c) the interest is to be compounded monthly and calculated on the number of days since

(

i) the last compounding of interest, or

(ii) if no previous compounding has occurred, the interest commencement date;

(

d) interest stops running on the day

(

i) an instrument capable of effecting payment of the money owed is delivered or mailed to the person to whom it is owed, or

(ii) payment is made.

(2) Subsection (1) does not operate to require the payment of an amount of interest less than $5.

Interest on refund of municipal tax sale money

(1) The following rules apply to interest payable under

section 411 (3) [refund if government refuses tax sale purchaser] or 423 (2) (a) [refund if court sets aside tax sale] of the Local Government Act:

(

a) the interest rate, for each successive 3 month period beginning on January 1, April 1, July 1 and October 1 in every year, is 2% below the prime lending rate of the principal banker to the Province on the 15th day of the month immediately preceding that 3 month period;

(

b) the interest is to be compounded monthly;

(

c) interest stops running on the day

(

i) an instrument capable of effecting payment of the money owed is delivered or mailed to the person to whom it is owed, or

(ii) payment is made.

(2) Subsection (1) does not operate to require the payment of an amount of interest less than $5.

Penalty for unpaid taxes

3 If all or part of the property taxes referred to in

section 234 (1) [taxes collected under general tax collection scheme] of the Community Charter for a parcel of land and its improvements on the assessment roll remain unpaid after July 2 of the year those taxes are levied,

(

a) the collector must add to the unpaid property taxes for the parcel and improvements for the current year a penalty equal to 10% of the portion that remains unpaid, and

(

b) the penalty referred to in paragraph (

a) is due as part of the property taxes for the current year for the parcel and improvements.

Property taxes for other bodies

4 If a property value tax is imposed under

section 197 (1) (b) [property taxes for other bodies] of the Community Charter on the basis of

(

a) the net taxable value of land and improvements,

(

b) the net taxable value of land, or

(

c) the net taxable value of improvements,

unless otherwise expressly provided, the relationships between tax rates, expressed as ratios of the rate on each property class to the rate on Class 1, must be as follows:

Property Class

Ratio to

Property Class 1 Rate

1.0 : 1

3.5 : 1

4.0 : 1

3.4 : 1

3.4 : 1

2.45 : 1

3.0 : 1

1.0 : 1

1.0 : 1

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