BC Ferries Reach a Property Tax Agreement
Prince Rupert's Ferry Terminal will no longer have to worry about a 46-thousand dollar loss in yearly revenue.
That's because the issue surrounding property taxation on ferry terminals has been resolved.
After a court notice was filed in November by the District of West Vancouver when they saw the value of their B-C Ferries Horseshoe Bay terminal slashed from 47-million dollars to just 20-million dollars in property taxes.
This brought different parties from across B-C together to speak against the reduction in property tax.
B-C Ferries, Deborah Marshall says a five year agreement has been put in to place to ensure stable property taxes for B-C Ferries and local governments.
"All of the parties came together to ensure BC Ferries is paying fair and reasonable property taxes throughout all of our service areas. This agreement provides predictability for BC Ferries, it's a five year term and it helps us mediate pressure on Ferry Fares. What it means for BC Ferries is we will be paying about twenty percent less across the board in property tax and it's about a million dollars savings to BC Ferries."
The B-C assessment will apply the same methods to the 20-13 revised roll for all the other 48 BC Ferry Terminals located throughout the province.