Land and improvements

1   In this regulation, "land and improvements" does not include land and improvements that are taxable for school purposes only by special Act.

Prescribed tax

2   (1) For the purposes of section 15 (2) (b) of the British Columbia Transit Act, prescribed tax rates for the fiscal year starting April 1, 2026 are

(a) $0.3594 per $1 000 of the net taxable value of land and improvements of property in classes 1, 3, 8 and 9, and

(b) $1.9408 per $1 000 of the net taxable value of land and improvements of property in classes 2, 4, 5, 6 and 7.

(2) The references to classes of property in subsection (1) are to the classes of property under the Prescribed Classes of Property Regulation.