WHEREAS the statutory property exemption for business Class 6 assessments is 10,000, regardless of the property value; AND WHEREAS the business Class 6 exemption has remained unchanged since implementation in 1984 despite increasing assessments: THEREFORE BE IT RESOLVED that the provincial government review the business class exemption for Class 6 assessments and consider an increase to 50,000 for the statutory property exemption, in order to provide small businesses, in the Province of British Columbia, a fair exemption for their increased assessed property value.
Ministry of Community Development Amendments enacted to Section 226 of the Community Charter CC provide municipalities with the opportunity to provide for revitalization tax exemptions for any revitalization objectives, including economic revitalization. These provisions will allow a municipality to target the kinds of economic activities and investment which will be in the best interests of the community.