Property taxes are paid in July for the full calendar year. They are based on the BC Assessed value.
TOURISM WHISTLER FEES
These are quarterly fees payable to Tourism Whistler for properties located on “Resort” lands. They are calculated based on the number of bed units (eg. one bedroom equals two bed units) present in the accommodations, and are dependent on the use of the property.
Buyers will be required to arrange insurance on single-family residential accommodations. With respect to strata-titled properties, buyers should maintain liability and contents insurance.
CONDOMINIUMS/TOWNHOMES MAINTENANCE FEES
Buyers will be responsible for paying monthly maintenance charges. The Strata Corporation is also entitled to levy special assessments for extraordinary expenses, should there not be sufficient money in the contingency reserve fund.
Other information for buyers to consider
SHOULD I BUY IN MY NAME OR IN THE NAME OF A COMPANY?
The answer to this question is usually tax driven and therefore you should obtain accounting advice. There can be draw backs to purchasing in the name of a company including the following:
- Corporations may pay tax on income received from the property at significantly higher rates than individuals(depending on the individuals marginal tax rates)
- Corporations can pay higher capital gains tax as well