Take the stress out of paying your taxes and set up monthly prepayments. After you have paid your current property taxes, you can set up monthly prepayments for next year's tax bill.
Simple interest will be paid on your prepayments each month at the Royal Bank prime rate less three per cent (minimum 0.4 per cent), and is credited to your property tax account. This interest is considered a tax discount by Canada Revenue Agency and is tax free.
Find answers below to commonly asked questions about the transfer of outstanding utility account balances to property tax accounts.
SEE BILLS ONLINE WITH A PROPERTY ACCOUNT
Create a free Property Account, register your utilities, and switch to eBilling today. Visit billing.kelowna.ca to get started.
Maintenance of adequate levels of reserves and surplus continues to play a significant role in achieving a level of financial stability for Kelowna taxpayers. The City maintains Reserve Funds and General Reserves in order to protect the current and future financial viability of the municipality. Reserve funds are statutory reserves which represent funds that have been put aside, or reserved, for specific purposes. General reserves are reserves that may be used for future operating or capital expenditures.
The City’s resources and operations are separated into various funds. The use of these funds is restricted by the Community Charter and associated municipal bylaws.
Each year, City Council looks over the Preliminary Financial Plan to decide which projects to fund and which ones to put on hold or cancel. Council then sets a budget that balances the community’s interest in maintaining existing levels of services, planning for infrastructure needs, and establishing a reasonable tax rate.
As of Jan. 1, 2021, the Province of BC is responsible for the Provincial Home Owner Grant program. To apply for a retroactive or new grant, check your application status, or learn more about the grant, visit www.gov.bc.ca/homeownergrant or call 1-888-355-2700.