ANNUAL WATER PARCEL TAX
BEID levies an annual tax on all properties within the district boundaries, whether water services are being supplied or not. This includes properties that are vacant land and others that have their own wells. Properties within a city or municipality have a tax for water automatically included in their annual property tax bill. As your water is supplied by BEID, the taxes are issued by and paid to the BEID.
Tax proceeds are contributed to the Renewal Reserve Fund. The renewal reserve fund generally responds to major repair, replacement and renewal of assets. The Renewal Reserve Fund is mandated by the Local Government Act (Act).
Section 706 of the Act states
706: Renewal of works and related reserve funds
An improvement district must make adequate provision in advance to renew works when they require renewal and must raise amounts for that purpose.
The improvement district board must establish reserve funds for the purpose of renewal of works referred to in subsection (1), and amounts raised as required under that subsection must be credited to the applicable reserve fund.
Money in a reserve fund, and interest earned on it, must be used only for the purpose for which the reserve fund was established.
Tax invoices are issued on June 1 each year and are due on or before June 30. Taxes that remain unpaid after the due date, will be charged a late payment penalty of 15%. In addition, taxes in arrears or delinquent will be charged interest at Province prescribed rates. Taxes in arrears in excess of two years are subject to tax sale (section 718 to 726 of the Act)
View the current Assessment Bylaw and the current Taxation Bylaw by clicking on the links below.