http://www.vernon.ca/council/meeting_schedule.pdf
June 5, Tuesday: Finance Committee 1:00 pm Kalamalka Lake Room
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Don Quixote Note: At this meeting I expect to hear the debate and recommendation on the O'keefe Ranch Grant application for $1.1 million. I hope to hear the detailed variance report that will tell us how the $1.55 million operating surplus in 2006 was achieved.
I also expect some discussion of why The BC Property Tax Deferment Program information was not part of the tax package mailed out to all taxpayers. It was a great reminder last year and it was discontinued this year?
Under the program, the Province pays municipal or rural property taxes on behalf of eligible property owners who are 55 or older, a surviving spouse, or a person with a disability. Participants may defer taxes on a home in which they live and have equity equal to at least 25 per cent of the current value, and may continue to defer as long as they own and live in the home. After paying a one-time, $60 administration fee, approved applicants benefit from simple interest charged on their deferment accounts at a rate two per cent below the bank prime rate, and they can renew annually for $10.
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