Whereas the production of low carbon-emitting energy is important to meeting climate action goals and should be encouraged; And whereas local governments do not have the authority to incentivize low carbon-emitting energy production within the current BC Assessment property tax structure: Therefore be it resolved that UBCM request that a new classification be created by BC Assessment Authority to recognize low carbon-emitting energy production in BC.
Ministry of Finance At this time, Government does not plan to create any new property class. BC already has 9 property classes, which is more than many jurisdictions in Canada. Government is committed to fighting climate change. In 2018, Government launched the CleanBC climate action plan to lay out a pathway to reduce emissions. In 2020, as part of BCs response to the pandemic, Government temporarily redesigned the CleanBC Industrial Incentive Program to support the early release of a portion of funds and provided a higher portion of CleanBC Industry Fund investments upfront to help get projects off the ground. There are provincial tax policies that promote green energy. For example, the carbon tax encourages the consumption of cleaner energy by applying additional tax to the purchase and use of fossil fuels. Provincial sales tax may be exempted for qualified low-carbon energy production machinery and equipment. Government has also provided property assessment exemptions to support the independent power producers e.g., wind power and solar power producers and incentivize low carbon-emitting energy production.