Penalty date for Richmond property tax payment extended to September 30
21 April 2020
Richmond residents will have until September 30 to pay their property taxes without penalty, bringing them into line with the provincial deadline for businesses and providing more time for property owners facing challenges due to the COVID-19 pandemic.
In recommending the revised date at a Special Meeting on Monday (April 20), Council stressed that the move is specifically aimed at helping those dealing with financial difficulties due to the pandemic.
At the same time, it is encouraging those property owners in a position to meet the annual July 2 tax payment due date to still do so to help keep City programs and services in place to the highest level possible without cuts.
The City is also required, due to changes imposed by the Province, to remit by August 1 the levies collected on behalf of TransLink, Metro Vancouver, BC Assessment and the Municipal Finance Association.
Council initially proposed shifting the property tax payment deadline to September 2, enacting its rights under the Community Charter. It revisited that date following the Province’s decision to give businesses across BC until September 30 instead. As a result, any Richmond resident or business property owner who has not paid their tax or sought eligibility under the BC Deferment Program by September 30 will be subject to a 10 percent penalty after that.
Council also gave First, Second and Third Reading to the Revised Consolidated 5 Year Financial Plan (2020-2024) Bylaw 10183 on Monday evening. That revised Bylaw, which could result in a two percent reduction in the previously approved 2020 property tax amount, requires public consultation before it can be adopted.
Richmond Council approved budget amendments due to the COVID-19 pandemic that would reduce the previously approved property tax amount by two percent. Strategies to achieve that include cancelling the annual transfer to reserve of one percent, placing the hiring of 12 RCMP Officers and five RCMP support positions on hold, delaying phased funding for the City Centre Community Centre North, and deferring the operating budget impact of projects previously approved in the 2020 Capital Budget. Combined, the proposed changes will reduce 2020 property taxes by $4.6 million.
Residents and businesses are encouraged to learn more and share their comments on the proposed Revised Bylaw on the LetsTalkRichmond.ca website or submit comments via email to finance@richmond.ca. The deadline for comment is Sunday, May 3.
Advertisements reminding people of the opportunity to comment as well as the revised tax payment penalty date will also be placed in local media outlets and promoted through the City’s social media accounts.
Information on the City of Richmond property tax payment process and options can be found at www.richmond.ca/cityhall/finance/rates.htm. Detailed information and eligibility requirements for the BC Tax Deferment Program are available on the Provincial website at www2.gov.bc.ca/gov/content/taxes/property-taxes/annual-property-tax/defer-taxes.