Ferry terminal property reassessment noticed in Comox Valley

West Vancouver's loss of property tax revenues from two BC Ferries terminals is causing concern at the Comox Valley Regional District.

West Vancouver’s loss of property tax revenues from two BC Ferries terminals in its borders is causing some concern at the Comox Valley Regional District.

The CVRD receives nearly $28,000 per year in property tax revenues from BC Ferries properties in the Comox Valley, and the Comox-Strathcona Regional Hospital District (CSRHD) receives over $10,700 per year. But the future of these funds is somewhat uncertain due to a decision by the Property Assessment Appeal Board (PAAB) regarding the properties in West Vancouver — which could set a precedent.

“If you lose this tax revenue,” says the CVRD’s CAO Debra Oakman, “you know, the services aren’t decreasing so you need to find that cost and spread that out on the rest of the taxpayers so there’s always a concern about that.”

According to a CVRD staff report, the PAAB recently decided in favour of an assessment appeal by BC Ferries for its two terminal properties in West Vancouver (Horseshoe Bay); the PAAB stated that because the Province said the properties can only be used for ferry terminals, market demand for the properties is basically non-existent.

The BC Ferries properties went from being assessed at $47.7 million together to just $20, and the decision is retroactive to 2010 — so West Vancouver must repay property tax revenues of $250,000 each year for the last three years and face a shortfall of $250,000 in future years.

West Vancouver and BC Assessment Authority are appealing the PAAB decision, and at Tuesday’s CVRD board meeting, directors passed a resolution to send a letter supporting them.

Although the PAAB decision does not directly affect the CVRD, West Vancouver’s appeal states: “BC Ferries has decided that they would appeal property assessments related to ferry terminals on an individual basis with the intention that a decision made for one appeal would create precedence for all others to follow.”

Five ferry terminals are located within the CVRD. The BC Ferries ferry terminal properties at Little River, Buckley Bay, Hornby Island and the two on Denman Island were valued at about $5.7 million this year, according to the CVRD staff report.

The CVRD uses property tax revenues from the ferry terminals to provide funding to a variety of services in the Comox Valley, such as the Victim Services Program, Comox Valley Community Justice Service, Search and Rescue – Comox Valley, recreation, transit, Comox Valley Airport Service and the Comox Valley Art Gallery.

writer@comoxvalleyrecord.com

Just Posted

A Saanich man received almost 10 years in Supreme Court in Courtenay for a shooting incident from 2018. Record file photo
Shooting incident north of Courtenay nets almost 10-year sentence

Richard Daniel Vigneault was arrested without incident and faced 16 counts

Danielle Egilson has been awarded a $40,000 post-secondary scholarship with The Cmolik Foundation. Photo supplied
Student from Courtenay’s Vanier Secondary lands prestigious scholarship

Cmolik Foundation provides opportunities for youth who’ve experienced adversity

Poverty is a sad reality for some people in the Comox Valley. Photo by Jon Tyson on Unsplash
Project takes a hard look at poverty in the Comox Valley

Objective is to reduce poverty in the Comox Valley by 25 per cent over four years

Dr. Aref Tabarsi, a general pathologist at the North Island Hospital Campbell River Hospital Medical Laboratory, spoke about the issue of service in the region at a meeting in February 2020. Black Press file photo
Comox Strathcona hospital board wants pathology service back

Board supports move for chair, vice-chair to engage with Island Health on issue

Comox town hall. Black Press file photo
Comox approves 2021 tax rates

Homeowners can expect a 4.95 per cent in their residential tax rates this year

Daily confirmed COVID-19 cases reported to B.C. public health, seven-day rolling average in white, to May 12, 2021. (B.C. Centre for Disease Control)
B.C. preparing ‘Restart 2.0’ from COVID-19 as June approaches

Daily infections fall below 500 Friday, down to 387 in hospital

Cannabis bought in British Columbia (Ashley Wadhwani/Black Press Media)
Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

The following is a list of restaurants offering take-out and patio dining. ADOBE STOCK IMAGE
List of Comox Valley restaurants offering take-out, patio dining options

Restaurants in the Comox Valley continue to adapt to government-imposed restrictions in… Continue reading

The only access to 5th Street bridge heading east (toward Lewis Park) is via Anderton Avenue. Photo by Terry Farrell.
Single lane alternating traffic controls on Courtenay bridge now in effect

Single lane alternating traffic on the 5th Street Bridge is now in… Continue reading

Sinikka Gay Elliott was reported missing on Salt Spring Island on Wednesday, May 12. (Courtesty Salt Spring RCMP)
MISSING: Salt Spring RCMP find woman’s car, still seek Island resident

Sinikka Gay Elliott is 5’3” with a slim build and dark brown short hair

Bradley Priestap in an undated photo provided to the media some time in 2012 by the London Police Service.
Serial sex-offender acquitted of duct tape possession in B.C. provincial court

Ontario sex offender on long-term supervision order was found with one of many ‘rape kit’ items

Rich Coleman, who was responsible for the gaming file off and on from 2001 to 2013, was recalled after his initial testimony to the Cullen Commission last month. (Screenshot)
Coleman questioned over $460K transaction at River Rock during B.C. casinos inquiry

The longtime former Langley MLA was asked about 2011 interview on BC Almanac program

Steven Shearer, <em>Untitled. </em>(Dennis Ha/Courtesy of Steven Shearer)
Vancouver photographer’s billboards taken down after complaints about being ‘disturbing’

‘Context is everything’ when it comes to understanding these images, says visual art professor Catherine Heard

Most Read