Property Taxation - Provincial Class Multiples for 2010 and Municipal Taxation Rate Cap for Class 2 Property for 2010
Circular No. 10:05
|Property Class||Class Multiple|
|6.||Business and Other||2.45:1|
|7.||Managed Forest Land||3.00:1|
The foregoing multiples are also to be used in setting tax rates for
regional hospital district purposes
(B.C. Reg. 406/82).
2. Municipal Taxation Rate Cap for Class 2 Property for 2000 and Subsequent YearsExtract from B.C. Regulation 329/96:
"2. In setting the tax or levy rate for Class 2 property for general municipal purposes, a municipality must not exceed the greater ofOriginal signed by:a) $40 for each $1,000 of assessed value; and[Note that the term "general municipal revenue" is defined in the regulation].
b) 2.5 times the rate applicable to Class 6 property for general municipal purposes in the municipality for the same taxation year."