WHEREAS under the provisions of the Columbia River Treaty, BC Hydro has been exempted from paying property taxes to local governments in the Columbia River Basin; AND WHEREAS while the provincial government has indicated it will rescind these provisions, thereby requiring BC Hydro to pay property taxes on its installations, no action has been forthcoming to initiate this change in policy: THEREFORE BE IT RESOLVED that the Union of BC Municipalities request that the Province of British Columbia take the action necessary to require BC Hydro to pay property taxes to local governments, including regional districts and the Islands Trust, for all its installations throughout the province, based on consistent and realistic assessment formulas, effective the 2006 taxation year.
Ministry of Finance Government is currently reviewing the issue of grants in lieu of taxes for BC Hydro facilities across the province. Government is committed to an equitable solution based on the property taxes paid by other forms of electrical generation in the province.