At the request of Community, Sport and Cultural Development Minister Bill Bennett, BC Assessment and BC Ferry Services Inc. have reached an assessment agreement for all BC Ferries terminal properties.

The agreement, resulting from a willingness by all parties to enter into discussions, ensures accurate assessments and stable property taxes for BC Ferries and local governments over the five-year term of the agreement.

The impetus for these discussions was a recent Property Assessment Appeal Board decision that directed BC Assessment to enter a value of $20 for the Horseshoe Bay ferry terminal property assessment for 2010, 2011 and 2012. Under the new agreement, the total 2013 revised General Assessed Value for the Horseshoe Bay ferry terminal properties will be just over $47million. BC Ferries is also withdrawing all unresolved 2010, 2011, and 2012 property assessment appeals.

BC Assessment will apply the same methodology to the 2013 Revised Roll for all of the other 48 BC Ferry terminals located throughout British Columbia. This agreement provides for a long-term stable and predictable assessment and tax base for the ferry terminals and the communities they serve.

Quotes:

Bill Bennett, Minister, Community, Sport and Cultural Development -

"The Appeal Board decision directing BC Assessment to value the Horseshoe Bay terminal at $20 was simply not reasonable or fair to local taxpayers. I asked the parties to enter into discussions and agree to a fair assessment level that made sense. I am pleased with the agreement and appreciate the efforts by everyone involved."

John Ruttan, mayor, City of Nanaimo -

"I am pleased that this matter has reached a successful conclusion and that the uncertainty surrounding property taxation on ferry terminals has now been resolved."

"I wish to thank Minister Bill Bennett for his leadership role in bringing the interested parties together. I would also like to express my appreciation to BC Assessment and BC Ferries for their active participation on this challenging issue."

Michael Smith, mayor, District of West Vancouver -

"West Vancouver is very pleased that all the parties were able to come to an amicable resolution and put this chapter behind us."

Media Contact:

Matt Gordon
Communications Director
Ministry of Community, Sport and Cultural Development
250 953-3677 (office)
250 896-4923 (mobile)