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Infrastructure &
Finance Division
 

Interest Rate on Taxes in Arrears or Delinquent

 

Circular No. 08:12
ARCS File#: 195-20

 


 
April 17, 2008
To: All Improvement District Officers
 
Re: Interest Rate on Taxes in Arrears or Delinquent (Section 760 of the Local Government Act)
 

Any improvement district that levies taxes MUST pass a taxation bylaw every year, regardless of whether the rate changes from the prior year. your improvement district has not yet passed its taxation bylaw for the current year and submitted it to the Ministry of Community Services, please do this well ahead of your tax collection date. Failure to have your tax bylaw passed will invalidate your ability to collect your taxes, levy a penalty, and to use tax sale as a means to collect taxes unpaid for more than 24 months.
 

Effective May 1, 2008, the interest rate established under Section 11(3) of the Taxation (Rural Area) Act shall be 8.25%.
 

The next rate setting will occur on September 1, 2008.
 

Original signed by:
 
Deborah Humphrey, B.A., CMA
Financial Analyst
Local Government Infrastructure and Finance
Phone: (250) 387-4026; Fax (250) 356-1873
 

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