Ravi Punia - REALTOR®

Fraser Valley Specialist

FRASER VALLEY REAL ESTATE BLOG POSTS

Surrey Property Tax Deferral: Covid-19 Relief

Yesterday the City of Surrey announced an extension to the payment deadline is available on property taxes.  The City of Surrey website states:


"The 2020 due date for property taxes is July 2, 2020. In order to provide financial relief to our residents, the City has changed the penalty date to October 1, 2020. This change in penalty date will allow a 90-day extension to pay taxes without late penalties. A 10% penalty will be levied to all accounts with outstanding balances on October 1, 2020. The penalty is also applicable on the homeowner grant portion of your taxes."


This will be welcome relief to many homeowners and businesses struggling during this period of financial hardship for many.  Property taxes often run several thousand dollars in cost annually for property owners.  This is a significant sum of money in many household budgets.  The 90 day extension will offer those who need it, 90 days of penalty-free relief by way of an extension.


For further details, click on this link for information on Paying Your Property Taxes | City of Surrey website.



*This blog communication is not intended to cause or induce breach of an existing agency agreement.  Views are my own and do not reflect those of any organizations that I may be associated with.

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