Varied Residential Tax Rates

Whereas the Province of British Columbia through the BC Assessment Act - Prescribed Classes of Property Regulation BC Reg. 43881 specifies that there is one assessment class for all types of residential properties and the Community Charter outlines that a municipal bylaw to establish the property value taxes each year under section 197 3 specifies there is a single rate of each property class; And whereas multi-family housing offers a more sustainable building form that is less infrastructure intensive than single-detached dwellings: Therefore be it resolved that UBCM request that the Province of British Columbia amend the BC Assessment Act and the Community Charter to allow the residential class to be split into more flexible residential sub-classes so that a different rates may be applied to each type of residential property to allow for more equitable taxation that better reflects the infrastructure needed to sustain these land uses.