Types of Tax-Exempt Properties
In BC, the following types of properties can be exempt from property taxation:
- Places of Public Worship: Churches and other religious institutions used primarily for worship.
- Private Schools: Schools operated privately that meet certain criteria.
- Non-Profit Residences for the Elderly: Facilities providing accommodation and care to seniors, operated by non-profit organizations.
- Sewage Treatment Plants: Facilities operated for public use or under government authority.
- Recreational Camps: Camps owned or occupied by registered charities for recreational purposes.
Notification to BC Assessment
If you:
- Acquire a New Property: You must notify BC Assessment if the new property qualifies for a tax exemption.
- Change the Use of an Existing Property: If the change in use makes the property eligible for an exemption, you need to inform BC Assessment.
Effective Date of Exemption
- Timing: The exemption will start in the tax year following the year in which you notify BC Assessment of the acquisition or change in use.
- Interim Responsibility: You are responsible for paying property taxes for the current year while waiting for the exemption to take effect.
Steps to Apply for an Exemption
- Determine Eligibility: Verify that your property meets the criteria for exemption. Each type of exemption may have specific requirements.
- Notify BC Assessment: Submit the necessary documentation and application forms to BC Assessment. This might include proof of the property’s use, ownership documents, and any other relevant information.
- Follow Up: Ensure you receive confirmation that your application has been processed and that the exemption will be applied from the appropriate tax year.
Important Considerations
- Documentation: Keep thorough records and documentation related to the use and ownership of the property. This can help in case of any disputes or verification needs.
- Tax Payments: Ensure you keep up with property tax payments until the exemption is formally applied. Failure to pay taxes on time can lead to penalties or other complications.
- Review Annually: Periodically review your property’s status and the relevant exemption criteria, as regulations and eligibility requirements may change.
Resources
- BC Assessment Office: Contact them for specific guidance on your situation. Their website often provides detailed instructions and contact information.
- Local Municipalities: They may also offer information or assistance regarding property tax exemptions and related processes
