Ports Property Tax Act

Ports Property Tax Act 7 2004 March 31, 2004 1922970521/04007/tlc04007_f E3tlc04007 Definitions 1 In this Act: assessment roll number means the alphanumeric identifier described as an assessment roll number on an assessment roll under the Assessment Act and used to identify a particular property; Class 4 property means property that is assessed as property in the Class 4 property class under the Assessment Act ; designated means designated under section 2; eligible port property means land identified by a specific assessment roll number, and the improvements on that land, if the following apply to the property: a the property i is located next to a navigable waterway, and ii is assessed, in whole or in part, as Class 4 property; b the property i includes one or more improvements that are assessed as referred to in paragraph (a) (ii) by reason of being industrial improvements within the meaning of paragraph (q) [sea-going cargo loading and storage] of the definition of "industrial improvement" in section 20 (1) of the Assessment Act , or ii is used or held primarily in association with property that is otherwise eligible port property; c the property, when considered as a whole, is not primarily used or held for the purpose of the transport of crude oil or petroleum fuel products or both, or for purposes that are ancillary to this transport; d the improvements referred to in paragraph (b) (i) are not primarily used or held for the purpose of the transport of products from an industrial production or processing facility that is part of the property or is near that property, or for purposes that are ancillary to this transport; municipal property value taxes means the following: a in the case of a municipality other than the City of Vancouver, property value taxes for which rates are established under section 197 (1) (a) [municipal property value taxes] of the Community Charter ; b in the case of the City of Vancouver, property value taxes imposed under section 373 [rating by-law] , section 459 [business improvement area levies] or Part XXIV [Local Improvements] of the Vancouver Charter ; municipal tax rate means the tax rate imposed on property by way of municipal property value taxes. Designated port facilities 2 1 For the purposes of section 3 or section 4, or both, the Lieutenant Governor in Council may, by regulation, designate property that is eligible port property on the date of designation. 2 A designation under subsection (1) a is to be by assessment roll number as at a date specified in the regulation, and b applies to the land identified by the assessment roll number and to all improvements on that land, whether the improvements were on the land at the date specified or added later. 3 Subject to subsections (4) and (5), in order to apply for the purposes of assessment and taxation for a taxation year, a regulation under subsection (1) must be in force on or before December 31 in the preceding year. 4 Despite section 74 (5) of the Assessment Act , if property a is included on a supplementary assessment roll under section 26 (5) (a) [assessment of Crown land that becomes held or occupied by others] of the Assessment Act , and b is designated under subsection (1) of this section, the designation, regardless of when the regulation under subsection (1) comes into force, is effective under section 3 or 4 for the taxation year for which the supplementary assessment roll was prepared. 5 Despite section 74 (5) of the Assessment Act , if a an entry is made on a supplementary assessment roll under section 26 (5) (b) [assessment of Crown land that ceases to be held or occupied by others] of the Assessment Act with respect to property that is designated under subsection (1) of this section, and b the Lieutenant Governor in Council rescinds the designation, the rescission, regardless of when the regulation rescinding the designation comes into force, is effective for the purposes of assessment and taxation for the taxation year for which the supplementary assessment roll was prepared. Property tax rate cap on designated port facilities 3 1 For property that is both a designated for the purposes of this section, and b Class 4 property, the maximum municipal tax rate that may be imposed is $27.50 per $1 000 of assessed value. 2 [Repealed 2014-4-39.] 3 If a municipal tax rate that would otherwise apply to property subject to the restriction under subsection (1) is greater than the rate permitted by that subsection, the municipality may impose a municipal tax rate on the property that is different from the municipal tax rate imposed on other Class 4 property. 4 For certainty, a municipal tax rate imposed under subsection (3) does not apply for the purposes of section 197 (4) [property taxes for other bodies] of the Community Charter . Property tax rate cap on new investment in port facilities 4 1 For property that is both a designated for the purposes of this section, and b Class 4 property, the Lieutenant Governor in Council may, by regulation, provide that new investment in improvements on that property in a particular taxation year is subject to a maximum municipal tax rate of $22.50 per $1 000 of assessed value. 2 New investment in improvements is eligible for a municipal tax rate restriction under this section only if it is in relation to improvements whose assessed value is included in an assessment roll for the 2005 or a subsequent taxation year. 3 A regulation under subsection (1) may do any or all of the following: a limit its application to prescribed improvements or types of improvements; b establish what constitutes new investment in improvements, including by establishing a formula for determining the value of new investment in improvements; c define terms and expressions used in this section; d provide for appeals respecting determinations made under the regulations in relation to this section, including by making provisions of the Assessment Act apply; e make different provisions for different designated property and for different improvements on that property. 4 The period during which the municipal tax rate restriction under this section applies to new investment in improvements in a particular taxation year is 10 years, beginning the first year in which the restriction applies to that new investment in improvements. 5 If a municipal tax rate that would otherwise apply to property subject to the restriction under subsection (1) is greater than the rate permitted by that subsection, the municipality may impose a municipal tax rate on the new investment in improvements referred to in that subsection that is different a from the municipal tax rate imposed on other Class 4 property that is subject to the municipal tax rate restriction under section 3, and b from the municipal tax rate imposed on other Class 4 property. 6 For certainty, a municipal tax rate imposed under subsection (5) does not apply for the purposes of section 197 (4) [property taxes for other bodies] of the Community Charter . Differing municipal tax rates may apply 4.1 1 If a municipal tax rate that would otherwise apply to property subject to the restriction under section 3 (1) is lower than the maximum rate permitted by that provision, the municipality may impose a municipal tax rate on the property that is different from the municipal tax rate imposed on other Class 4 property if the rate it imposes on the property is not higher than either a the municipal tax rate that was imposed in 2017 by the municipality for Class 4 property, or b the maximum rate permitted by section 3 (1). 2 If a municipal tax rate that would otherwise apply to property subject to the restriction under section 4 (1) is lower than the maximum rate permitted by that provision, the municipality may impose a municipal tax rate on the property that is different from the municipal tax rate imposed on other Class 4 property if the rate it imposes on the property is not higher than either a the rate imposed under subsection (1) of this section, or b the maximum rate permitted by section 4 (1). 3 For certainty, a municipal tax rate imposed under subsection (1) or (2) does not apply for the purposes of section 197 (4) [property taxes for other bodies] of the Community Charter . Repealed 5 [Repealed 2010-2-91.] Compensation to local governments 5.1 1 In this section, consumer price index or CPI means, for any 12-month period, the result arrived at by a aggregating the Consumer Price Index for British Columbia, as published by Statistics Canada under the authority of the Statistics Act (Canada), adjusted in the manner that may be prescribed, for each month in that period, b dividing the aggregate obtained under paragraph (a) by 12, and c rounding the result obtained under paragraph (b) to the nearest one-thousandth or, if the result obtained is equidistant from 2 consecutive one-thousandths, to the higher one-thousandth. 2 If property in a municipality listed in paragraph (a) is designated for the purposes of section 3, then, for the purpose of compensating the municipality in relation to the municipal tax rate restriction under that section, a with respect to the 2021 taxation year, the minister must pay out of the consolidated revenue fund to that municipality, in accordance with subsection (4), the amount indicated opposite the name of the municipality: Municipality Annual Payment City of Delta $377 911 City of North Vancouver $1 628 237 District of North Vancouver $920 414 City of Port Moody $641 018 City of Prince Rupert $1 795 267 District of Squamish $447 857 District of Stewart $114 912 City of Vancouver $54 001 b with respect to the 2022 and subsequent taxation years, the minister must pay out of the consolidated revenue fund to that municipality, in accordance with subsection (4), an annual payment for each taxation year determined by the following formula: annual payment  = previous year's annual payment × (1 + inflation adjustment) where previous year's annual payment  = the annual payment for the previous taxation year, and inflation adjustment  = subject to subsection (3), a number calculated in accordance with the following formula, rounded to the nearest one-thousandth or, if the result obtained is equidistant from 2 consecutive one-thousandths, to the higher one-thousandth: CPI for the preceding taxation year − 1 CPI for the second preceding taxation year 3 If the inflation adjustment calculated under subsection (2) (b) is less than zero, the inflation adjustment is deemed to be equal to zero. 4 A payment under subsection (2) is to be made in each taxation year for which the property is designated. Revitalization tax exemptions 5.2 If a revitalization tax exemption under section 226 of the Community Charter or section 396E of the Vancouver Charter applies to a designated eligible port property, a sections 3 and 4 of this Act do not apply to that property, and b for greater certainty, section 5.1 of this Act continues to apply to that property. Repealed 6-7 [Repealed 2010-2-91.] Consequential and Other Amendments 8–9 [Note: See Table of Legislative Changes for the status of sections 8 and 9.] Section(s)  Affected Act 8  Municipalities Enabling and Validating Act (No. 3) 9  Vancouver Charter