Property Taxes

This week’s What’s Happening Wednesday is dedicated to property taxes.

It’s property tax time and there may be some first time home buyers out there who aren’t aware of the process. When you pay your property taxes in July, you are covering the six months prior and the upcoming six months of the year. If you are buying or selling a home during this time, the notary will make the adjustment on the taxes for you. This will be dependent on the closing dates and a credit will be applied if necessary. However, if closing is prior to July, you will owe for the prior months. The property grant is $770 which you can claim online this year. Throughout the year, you can sign up for direct payments online to come out monthly.

Should you have any questions about property taxes, or the real estate market, please give us a call at 250-914-1122. You can visit our listings at http://shannonmarin.com/vancouver-island-homes-for-sale/