UBCM Resolutions From Vernon (Business Class exemption ENDORSED )

B26 BUSINESS CLASS EXEMPTION Vernon
WHEREAS the statutory property exemption for business Class 6 assessments is $10,000, regardless of the property value; AND WHEREAS the business Class 6 exemption has remained unchanged since implementation in 1984 despite increasing assessments:
THEREFORE BE IT RESOLVED that the provincial government review the business class exemption for Class 6 assessments and consider an increase to $50,000 for the statutory property exemption, in order to provide small businesses, in the Province of British Columbia, a fair exemption for their increased assessed property value.

NOT PRESENTED TO THE SOUTHERN INTERIOR LOCAL GOVERNMENT ASSOCIATION
UBCM RESOLUTIONS COMMITTEE RECOMMENDATION: Endorse
UBCM RESOLUTIONS COMMITTEE COMMENTS:
The Resolutions Committee notes UBCM membership endorsed resolution 2007-B121 requesting that the provincial government “review the business class exemption for Class 6 assessments and consider a significant increase in the statutory property exemption, in order to provide small businesses, in the Province of British Columbia, a fair exemption for their increased assessed property value.” Similar resolutions in 2000 and 2001 requesting that the Province be requested to increase the business class assessment exemption from $10,000 to $20,000 were not endorsed. At that time in its comments the Resolutions Committee noted that an increase in the assessment exemption is potentially just a redistribution of the tax burden among businesses. If the local government maintains its business class tax allocation, then the result is just to reallocate the tax burden to other businesses.
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Don Quixote Note:
Vernon sent 4 resolutions to the UBCM screening committee and this is the only one that was ENDORSED for debate on the Convention Floor. Two others have been referred to UBCM executive to be discussed only after a Government review of the implementation of the recommendations from the 2003 Regional Hospital District Cost Sharing Review is issued. (Scheduled for the fall). The other one has been rolled into a UBCM paper that will form a resolution under the Umbrella Title of Fiscal Imbalance Policy Paper. (Paper not yet published !)