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.
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