Services Levy and Rural Taxes

Owners of homes in the UNA pay a Rural Tax to the Province of British Columbia and a Services Levy to UBC. The two added together are comparable to the City of Vancouver municipal tax for a similarly assessed property (view 2011 Mill Rates). The Services Levy is collected as a ‘landlord charge’ or additional rent and is, then, deposited into the Neighbours’ Fund which funds the UNA Operating Budget.

For more information about your Services Levy, please contact the UBC Finance office at 604-822-3596.

For more information about the Rural Property Tax, please contact 604-660-2421 or direct 250-387-0555.

For other useful contact information, please check the 2008-2009 Blue Book Reference Guide.

Neighbours’ Fund

The Services Levy is deposited into the Neighbours’ Fund, which is a separate fund within UBC finances. The UNA Annual Operating Budget receives funds from the Neighbours’ Fund to provide municipal-like services to the residents of the UNA. The Neighbours’ Fund is made up of the annual Services Levies collected from UNA homeowners and surpluses from prior years. Surpluses are allocated to four Reserve Funds within the Neighbours’ Fund:

• Infrastructure Replacement (used for streets, water, and lights)
• Capital (used for maintenance of the community centre building and play equipment in UNA parks)
• Rate Stabilization (to guard against unforeseen changes in the City of Vancouver tax rates)
• Contingency (to provide for unanticipated annual financial needs)

The Neighbours’ Fund is independently audited.

The Home Owners Grant

The grant is available to Canadian citizens or holder of permanent residency status in Canada, who live in British Columbia, and he or she must occupy the home as his/her principal residence.  For  more information, please visit the BC Rural Tax Property Grants website.

Basic

The basic grant can reduce your property tax by as much as $570. The minimum tax payable ($350) ensures that all homeowners (or eligible occupants, which includes an eligible occupant of an eligible apartment, housing unit, land cooperative or multi-dwelling leased parcel) contribute towards the funding of local services such as road maintenance and police protection.  For 2011, the basic grant will be reduced by $5 for each $1,000 of assessed value over $1,150,000and is eliminated on homes assessed at $1,264,000 or more.

Additional

In addition to the basic grant, the additional grant can reduce your property tax by a further $275, for a total of up to $845. However, it cannot reduce the amount payable to below $100. This minimum amount payable ensures all homeowners contribute towards the funding of local services such as road maintenance and police protection.  For 2011, the additional grant will be reduced by $5 for each $1,000 of assessed value over $1,150,000, and is eliminated on homes assessed at $1,319,000 or more.

To be eligible for the additional grant, you must meet the criteria for the basic grant, plus one of the following:

• 65 or older
• receiving disability allowance
• permanently disabled
• a veteran of WW I/II or Korean War

Property Tax Deferment

The British Columbia Property Tax Deferment Program is a loan program that allows you to defer your annual property taxes on your home if you meet certain criteria.

To qualify, you must meet certain criteria as outlined below:

• You are a Canadian citizen or permanent resident who has lived in British Columbia for at least one year immediately prior to applying for tax deferment benefits and be:

• 55 years or older during that calendar year (only one spouse must be 55 or older),
• a surviving spouse, or
• a person with a disability as defined by regulation: