Coquitlam city hall will take a look at what groups are getting a tax break, and why.
Last week, council OK’d permissive tax exemptions for 48 properties in Coquitlam — costing a total of $1.74 million, or a 1.05 per cent tax impact — as part of its five-year policy that ends this year.
Council voted to extend the policy another year for staff to make policy recommendations.
Under the current bylaw, permissive tax exemptions must by passed by today (Oct. 31).
The 2023 permissive tax exemptions are as follows:
- 31 for places of worship
- six for non-profit organizations
- six for residential care facilities
- five for recreational lands
The city did not provide a breakdown of the groups in its reports before council on Sept. 26 and Oct. 24.
Last year, the tax loss totalled $1.8 million, or a 1.08 per cent tax impact.
Permissive tax exemptions are allowed under Section 224 of the provincial Community Charter for properties that are owned by a charitable, philanthropic or non-profit corporation.
As well, under Section 220 of the Charter, the adjacent land surrounding a place of worship can be tax free; however, municipalities in B.C. are not obliged to grant exemptions.
The aim of permissive tax exemptions is to
- encourage development that benefits the community
- support non-profit groups
- bolster economic spin-offs
- attract new residents and businesses
