On April 11, 2023, British Columbia introduced a new regulation under the Taxation (Rural Area) Act, formally designated as B.C. Reg. 101/2023. This update revises the property tax rates applicable to various property categories in rural regions of the province, with the changes outlined in the attached Schedule. The primary objective of this update is to amend the Taxation (Rural Area) Act Regulation, B.C. Reg. 387/82, which dictates property tax rates in rural areas.

The key revisions involve replacing Sections 5 and 6 of the existing regulation with updated tax rates. These new rates are categorized by property class and vary between the Peace River Regional District and other rural areas of British Columbia.

For general rural areas outside the Peace River Regional District, the tax rates for 2023 and subsequent years are as follows:

• • • Residential Property: $0.34 per $1,000 of property value
    • Utilities: $3.75 per $1,000
    • Supportive Housing: $0.10 per $1,000
    • Major Industry: $7.49 per $1,000
    • Light Industry: $2.49 per $1,000
    • Business and Other: $2.49 per $1,000
    • Managed Forest Land: $0.47 per $1,000
    • Recreational Property/Non-profit Organization: $0.74 per $1,000
    • Farm: $0.57 per $1,000

In contrast, for the Peace River Regional District, the revised tax rates are:

• • • Residential Property: $0.34 per $1,000
    • Utilities: $4.07 per $1,000
    • Supportive Housing: $0.10 per $1,000
    • Major Industry: $7.81 per $1,000
    • Light Industry: $2.81 per $1,000
    • Business and Other: $2.49 per $1,000
    • Managed Forest Land: $0.47 per $1,000
    • Recreational Property/Non-profit Organization: $0.74 per $1,000
    • Farm: $0.57 per $1,000

These revised rates reflect regional adjustments intended to address differing economic conditions and property values across various areas. Specifically, the Peace River Regional District has slightly higher rates for utilities and major industry compared to other rural regions, aligning tax rates more closely with local economic realities and funding requirements.

British Columbia (101/2023) April 11, 2023.