Business Class Exemption

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.