Support grows to limit industrial tax reductions

By Rod Link
Houston Today
May 24, 2023
Category: Business & Politics
Region: Canada, Canada West

HOUSTON, BC — A push by the District of Houston council to limit the impact on tax revenues from the closure of major industries has received support. As provincial legislation stands now, a large company can apply to reduce the assessed value of improvements or facilities on property it owns down to 10 per cent when it closes the facility. The Houston council submitted a resolution to the North Central Local Government Association. The resolution will now be considered by all local governments in B.C. this fall. …Although the District’s resolution did not mention Canfor by name, the closure as of last month of its mill would have a substantial impact on the heavy industrial portion of the District’s tax base. …For its part, Canfor says that while it is closing its sawmill, it does want to build a new one, but won’t be making that decision until June.

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