Commercial property owners on Vancouver’s west side could be about to face some steep tax hikes due to recent assessments from BC Assessment.
Commercial property owners on Vancouver’s west side could be about to face some steep tax hikes due to recent assessments from BC Assessment. The issue is land that is in areas where zoning is for split use; the assessment could be based on high value residential property while the tax bill will be at the commercial rate, which is more than 4 times higher. This is because although the zoning allows a split, the percentages are not set so it could be used either way and is taxed at the higher rate. Although this has been highlighted as unfair by the Amacon precendent and a city-appointed tax commission, no change has yet been put in motion. Read the full story.
