Is BC Assessment Letting Businesses Dodge Property Taxes?

Is BC Assessment Letting Businesses Dodge Property Taxes?

In Washington state, property taxes are a primary source of revenue for local governments. But the question of whether businesses are dodging the taxes they owe has been raised by a recent investigation into the practices of BC Assessment, a Provincial Crown corporation responsible for determining the taxable value of all properties in British Columbia.

The investigation, conducted by the Vancouver Sun, found that BC Assessment had, in some cases, allowed businesses to reduce their taxable value by making deals with local assessors. The deals, which have been of particular concern to municipalities, have reportedly resulted in significant losses of tax revenue, with some businesses receiving reductions of up to 90 percent.

The practice of allowing businesses to reduce the taxable value of their properties through deals with assessors has been a source of controversy for some time. Critics have argued that the practice gives businesses an unfair advantage, allowing them to pay significantly lower property taxes than other taxpayers.

BC Assessment has long defended its practice of allowing businesses to negotiate deals with assessors, arguing that it is necessary to ensure fair and equitable taxation. However, the Vancouver Sun investigation has raised further questions about the practice and whether it is being abused by businesses to avoid their fair share of taxes.

The provincial government is now facing growing pressure to take action, with local governments demanding changes to the system and more transparency around the assessment process. It is clear that something needs to be done to ensure that businesses are not able to exploit the system and dodge the taxes they owe. Whether the provincial government will take steps to address the issue remains to be seen, but it is clear that the current system of allowing businesses to negotiate deals with assessors is in need of reform.