The B.C. government has distributed over $1.4 million in compensation for municipal property taxes to the City of Coquitlam and the City of Port Coquitlam.

The City of Coquitlam has received $589,179 and the City of Port Coquitlam has received $830,941. Altogether, the Province has distributed nearly $16 million in compensation for municipal property taxes to 56 communities around B.C.

Grants-in-lieu of property taxes are distributed every November and reimburse municipalities for services that benefited government properties, such as municipally run sewers, roads and fire protection.

Grants are issued in accordance with the Municipal Aid Act and are payable on land owned by the provincial government such as courthouses, provincial government office buildings and warehouses.

Schools and hospitals are exempt from paying municipal property taxes and are not part of the grants-in-lieu calculation. Other provincial assets such as highways, forests, parks or land under the control, management or administration of a Crown corporation are also excluded from compensation under the act.

Since 2002, the Government of British Columbia has distributed more than $254 million in grants-in-lieu to B.C. communities. A portion of the funds is paid by each community to its regional district, and both levels of local government use grants to help pay for local services.

Quote:

Linda Reimer, Port Moody-Coquitlam –

“As a former city councillor I know that the cities of Coquitlam and Port Coquitlam look forward to these annual grants because it is a reliable and predictable source of revenue. Local ratepayers stand to benefit because these funds help take pressure off property tax increases.”