On July 29, 2020, the Provincial Government announced that, in response to the COVID-19 pandemic, 2020 income requirements for the 2021 taxation year will be waived for existing Farm Class properties.
All other non-income related requirements for farm classification under the Assessment Act and Regulations continue to apply.
Read the full details regarding this announcement.
What does this mean for British Columbia properties with Farm Classifications?
All Active Farms and Developing Farms that had an official Farm classification from BC Assessment for the 2020 Assessment Roll will maintain their Farm Class for 2021 without any action required by the property owners.
As a result, BC Assessment is not requesting income information for Active or Developing Farms, but property owners still have the option to provide this information if they choose to.
However, any new applications for Farm Class, expired leases, legal changes and retired farmer designations for the 2021 Assessment Roll will be processed as usual by BC Assessment.
BC Assessment's detailed information regarding Farm classification and obtaining a Farm classification is available on BC Assessment's website.
For any questions regarding Farm classification, contact BC Assessment.
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