Vancouver’s commercial sector suffers a setback
Business groups are angry that tax breaks on commercial property will be withdrawn pending an appeal on split-use land assessments. Last month the Property Assessment Appeal Board ruled to allow split assessments for some land in the city. This would mean that some businesses would benefit from paying the lower residential rate on unused or undeveloped land; currently they may be paying the commercial rate on land that may or may not be used for that purpose. On Friday BC Assessment said it would appeal the PAAB’s decision and would not be implementing the ruling until after the appeal is heard.