City of Courtenay Annual Report 2021 draft

FINANCIAL REPORTING

2022-2026 FINANCIAL PLAN Municipalities are required by the Community Charter to adopt a balanced five year financial plan by May 15 every year. The City’s financial plan includes all revenues and expenses in the general, water, and sewer funds. This includes operating costs to maintain infrastructure and provide services to our citizens, as well as the costs associated with major capital projects. Property tax rates are set during the financial planning process based on how much revenue is required to maintain Council approved levels of services to our citizens. Public feedback is sought through open Council budget sessions and the City website, prior to final adoption. View Courtenay’s Financial Plans at courtenay.ca/financialplan

IMPORTANT 2022 PROPERTY TAX DATES

• 2022 Property Tax Notices mailed

Late May 2022

• Tax payments due • Provincial Home Owner Grant applications due to the province • Tax Deferment applications due to the province • Last day to avoid 10% penalty on unpaid current taxes and unclaimed grants

July 4, 2022

• 10% penalty added to all unpaid current taxes and unclaimed grants

July 5, 2022

• Tax Installment Preauthorized Payment Plan (TIPP) deductions start for the next taxation year

August 1, 2022

September 26, 2022

• Statutory property tax sale for all properties three years in arrears of taxes.

• Last day to pay current year taxes prior to rollover into arrears category. (Arrears and delinquent category taxes are subject to a daily interest)

December 31, 2022

Learn more: courtenay.ca/tax

For payment options, visit courtenay.ca/billpayments

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City of Courtenay | 2021 Annual Report