BC Changes Farm Assessment Classification System
The Province is establishing new rules for the split-classification assessment system for farm properties to boost local food production and support small-scale farms,
The change is among the recommendations put forth by the Farm Assessment Review Panel, which the Province established in February 2008 in response to feedback from the farming community and stakeholders.
The Province is significantly reducing the tax burden on farm properties by eliminating the split classification of farm properties on the Agriculture Land Reserve (ALR) that are not used for other purposes; and eliminating the split classification for non ALR properties where at least 50 per cent of the property is in or contributes to production, or 25 per cent is in production and meets a higher income threshold.
The panelís recommendations for the 2011 assessment roll will be strongly considered by government for implementation over the next year.
For more information on the Farm Assessment Review Panelís report, go to http://www.farmassessmentreview.ca/
- Additional School Tax Exemption for Developers
- Minimizing Property Tax on Development Land
- Why Such An Increase 2021 Industrial Property Taxes?
- Burnaby Industrial Properties Appear to be Over-Assessed
- Have BC Assessment Over-assessed Retail Spaces
- 2021 Property Assessment Value Changes
- Assessment Of Residential Sites Under Construction
- Should Homebuilders Be Paying Additional School Tax?
- City of Vancouver Land Averaging 2020
- Government Assistance: Property Tax
- 2020 Assessment of Apartment Properties
- Development Sites: Is The Additional School Tax Applicable?
- 2020 Property Assessment Value Changes
- BC Lower Mainland Market Update 2020
- Taxes Affecting Real Estate In 2019
- Development of Sites Under Construction - 2020
- Land Averaging For 2019 Property Tax In Vancouver
- 2019 Property Assessment Value Changes
- Understanding B.C.'s Proportional Representation Referendum (PPTX)
- Amacon Update
- Vancouver Vacancy Tax
- 2018 Property Assessment Value Changes
- Misconceptions within the Property Assessment Process
- Mayor's Council Proposal for Funding Transit
- Resolving Disputes - A New Approach
- Mixed Use Properties - Potential reclassification for Property Taxation
- Classification of Mixed Use Properties September 2016 Update
- Possible Effects of FIT on Assessments
- BC Foreign Investors Tax
- NAIOP Industrial Panel
- Classification of Mixed Use Sites - Part 2
- Opportunities for Brokers
- Valuation of Properties Under Construction
- Is Assessed Value Equal to Market Value?
- Civil Resolution Tribunal Update - October 2014
- Assessment Appeal Board Changes Classification for Mixed Use Development Sites
- Strata Civil Resolution Tribunal Update
- Reviewing Appraisals - Download
- Resolving a Rental Dispute
- How are School Taxes Calculated? | doc