Changes to School Tax Subsidy
Several years ago the provincial government provided a subsidy to industry as a whole, particularly heavy industry, by reducing school tax by 60% (a mill rate adjustment of 4 points).
In February 2013, without any notice to BC Assessment or the assessment community, the government announced that they would half the subsidy. The class 05 mill rate would be reduced by 2 points. In 2014 the subsidy will be eliminated. A new government could change that decision.
Given the potentially higher mill rate in 2014 and onward, it is not recommended to pursue any changes from 06 to 05.
In future, BCA should be notified of any 05 tenancy turnover so that they can change the designation back to 06 if that is appropriate.
Publications
- Expected Assessed Value Changes In 2024
- 2024 Property Assessment Value Changes
- Whistler and Pemberton 2023 Assessed Values
- 2023 Assessment Update
- 2023 Property Assessment Value Changes
- Expected Assessed Value Changes In 2023
- Potential Property Tax Relief For Local Businesses
- Reasons For Landlords To Appeal Their Property Assessments
- Developers need to Appeal the Additional School Tax (AST)
- 2022 Property Assessment Value Changes
- Misconceptions within the Property Assessment Process
- Additional School Tax Exemption for Developers
- Minimizing Property Tax on Development Land
- Assessment Of Residential Sites Under Construction
- Should Homebuilders Be Paying Additional School Tax?
- Development Sites: Is The Additional School Tax Applicable?
- Vancouver Vacancy Tax
- Resolving Disputes - A New Approach
- BC Foreign Investors Tax
- NAIOP Industrial Panel
- Opportunities for Brokers
- How are School Taxes Calculated? | doc