The District of Coldstream is continuing to evaluate how it taxes farm properties as it moves to reduce payments this coming year by one third of the assessed value. Mayor Jim Garlick says council was more than a little surprised to find out that BC Assessment uses information from back in 1980 when it estimates values of farm properties....and that definitely has a bearing on what Coldstream should be taxing. "The municipality has to take that into consideration with it's tax multiplier, that means how many times higher that you would charge a certain assessment class over another in order to make adjustments and even out the burden of taxation on the community." "We will re-assess next year, whether we keep heading on this path. We took a small step this year and we come back next year and will make more decisions on whether we continue to head down that road of reducing it or not. We brought it a little more in line with what is around the community this year."
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| 2015 Sources of tax revenues for Coldstream & Vernon |
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