Please note: This website is optimized for Internet Explorer 9 or higher. Please consider downloading the latest version, or using Chrome or Firefox.
Test System

School Tax Credits for Industrial Property and Farm Land

School Tax Credits for Industrial Property and Farm Land

What property qualifies for a tax credit under the School Act?

Land in Class 9 - farm qualifies for a credit equal to 50% of the property taxes imposed under the School Act.

Property in Class 4 – major industry – no longer qualifies for a credit of the property taxes imposed under the School Act. Bill 6 (Budget Measures Implementation Act, 2022), in effect as of June 2, 2022, eliminated the tax credit for 2023 and subsequent tax years.  

For more information on properties in these classes, see Classification of Property.

What is a tax credit?

A tax credit does not affect the value of property for the purposes of assessment, but it operates to reduce the amount of property tax that is payable.

For more information on school tax credits, visit the Ministry of Finance website

What should I do if my property seems to be classified incorrectly?

  • BC Assessment will be pleased to discuss any aspects of classification or valuation with interested customers. Please contact BC Assessment here.
  • To estimate the impact that a classification change will have on your property taxes, prior year’s tax rates can be found at: http://www.cscd.gov.bc.ca/lgd/infra/statistics_index.htm 

Current tax rates can be obtained by contacting your municipality or taxing authority.

 


Updated 07/2022
Disclaimer: Where information presented is different from legislation, legislation shall prevail.
  
Information for Landlords and Tenants of Commercial Property
School Tax Credits for Industrial Property and Farm Land