Property Taxes

Each year the Municipality, BC Assessment, Regional Library, Regional District, School District, and Regional Hospital require revenue for the services they provide to the residents of Penticton.

Each public agency with taxing authority sets a budget for the amount of tax revenue it requires. Tax rates vary among property classifications and are calculated by dividing the budget needs of the agency by its assessment base. The appropriate tax rate is then applied to individual property assessments, and the tax levy is calculated.

Formula

Your Property taxes are based on this formula:

  • Assessed Property Valuex Property Tax Rate = Property Tax Bill

Assessed Property Value

The value of property for tax purposes is determined by BC Assessment Authority which is established under provincial legislation and is independent of the municipality.

Your assessment notice is mailed out annually on December 31. You can not appeal your taxes, but you can appeal your assessment. Review BC Assessment's Appeal Process for deadlines and details.

For more information on your assessment, contact the BC Assessment Office at 250 763-8300 or by email at okanagan@bcassessment.ca.

Tax Rates & Tax Bylaws

For more information on tax rates and the associated bylaws see:

Property Tax Due Date - Last working day in July

All property tax notices are mailed annually near the end of May or early June. Property owners who have not received their tax notice by the second week of June should contact the Tax Department at 250 490-2485. New property owners are responsible for payment of their annual property taxes by the due date to avoid penalty, whether or not they receive a Property Tax Notice.

Change of Address Notification

You can notify BC Assessment directly of a change in your mailing addressby logging onto: BC Assessment Change of Address Notification.

Penalties

  • 10% late payment penalty for taxes outstanding after the first working day after July 31.

Actual penalty dates are clearly printed on the Property Tax Notice. Taxes that remain outstanding after these dates (including any unclaimed Provincial Home Owner Grant amount) are subject to penalty.