Assessments lower port’s tax payments

Assessments lower port’s tax payments.

from the North Shore News, quoting in part:

A new report released by the City of North Vancouver’s finance department reveals that Port Metro Vancouver has almost halved its payments to the city on unleased port lands over the last decade. Also, any new improvements on leased lands will be depreciated and removed from the tax base in 10 years.

The staff report reveals the “tremendous tax advantage” port industries receive, Coun. Pam Bookham said at the May 27 city council meeting.

“The community is absorbing a lot of negative impacts,” she said, citing tree clearing and traffic jams resulting from the Low Level Road expansion project, “and the idea that there was some financial benefit that was going to come to the community . . . when it’s put to the test, assuming that this information is accurate, it’s pretty paltry and it’s going to be a very short-lived bump in our tax revenues from the port industries.”


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One response to “Assessments lower port’s tax payments

  1. Two prime waterfront lots were available in CNV – one is now an Auto Mall and one is empty. Somehow CNV thinks there is nothing wrong with taxation rates. Go see all the container ships at Roberts Bank these days – this was supposed to be in DNV but Delta offered lower taxes.

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