Negative Tax??

Negative Tax??

Well, we all should have received our tax notices recently. What fun, love getting that in the mail. One thing you don’t see every day is a credit on your tax notice. What’s up with that??

Well, it turns out that at one point in the deep history of the North Shuswap, we borrowed some money to purchase Rose Clifford Park in Scotch Creek. Well, we have now retired that debt!!

Here’s the specifics from the CSRD CFO Jodi Pierce, “This is for the debt associated with the acquisition of Rose Clifford Park.  The debt was fully repaid in 2019, however, we also received additional interest back from the Municipal Finance Authority which created a surplus in that function.  As the operations of the park have now been rolled into the Area F parks budget, there were no related expenses to be offset against that interest refund and therefore it  is required to be repaid to the folks that were paying the debt for the purchase of the park.  This will be a one-time credit only. 

So, there you go. Unfortunately, and as expected, this is a one-time credit, but you may want to frame this tax notice to show that, at least one time, you did get a credit!

In other tax news, the North Shuswap

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3 thoughts on “Negative Tax??

  1. And yet…. no funding for the North Shuswap Health Centre…. many residents on the north shore would be happy to have it included in their taxes….
    I know you support efforts towards the health centre but SHAME on those entities/elected who do not.

    1. The Health Centre received $20,000 from a GIA grant from the CSRD earlier this year. The question is whether we include it in taxes in the future.

      1. So sorry! I had forgotten about that one time grant, however, it was a grant, and not an ongoing commitment.

        Thank you for being a supporter, Mr. Simpson.

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