Section 1 definition of "designated Act" BEFORE amended by 2003-52-492, effective January 1, 2004 (BC Reg 465/2003, repealing BC Reg 428/2003).
"designated Act" means the Assessment Authority Act, the British Columbia Transit Act, the Hospital District Act, the Islands Trust Act, the Local Government Act, the Municipal Finance Authority Act, the Taxation (Rural Area) Act or the Vancouver Charter;
Section 1 definition of "designated Act" BEFORE amended by 2009-22-4, effective October 29, 2009 (Royal Assent).
"designated Act" means the Assessment Authority Act, the British Columbia Transit Act, the Community Charter, the Hospital District Act, the Islands Trust Act, the Local Government Act, the Municipal Finance Authority Act, the Taxation (Rural Area) Act or the Vancouver Charter;
Section 1 definition of "designated Act" BEFORE amended by 2010-2-107, effective March 31, 2010 (Royal Assent).
"designated Act" means the Assessment Authority Act, the British Columbia Transit Act, the Community Charter, the Hospital District Act, the Islands Trust Act, the Local Government Act, the Municipal Finance Authority Act, the Taxation (Rural Area) Act, the Treaty First Nation Taxation Act or the Vancouver Charter;
Section 1 definition of "designated Act" BEFORE amended by 2014-32-59, effective December 31, 2014 (BC Reg 228/2014).
"designated Act" means the Assessment Authority Act, the British Columbia Transit Act, the Community Charter, the Hospital District Act, the Islands Trust Act, the Local Government Act, the Municipal Finance Authority Act, the Police Act, the School Act, the South Coast British Columbia Transportation Authority Act, the Taxation (Rural Area) Act, the Treaty First Nation Taxation Act, the University Endowment Land Act or the Vancouver Charter;
Section 1 definition of "rural area" was added by 2016-3-64, effective March 10, 2016 (Royal Assent).
Section 1 definition of "designated Act" BEFORE amended by 2024-13-257, effective April 25, 2024 (Royal Assent).
"designated Act" means the Assessment Authority Act, the British Columbia Transit Act, the Community Charter, the Hospital District Act, the Islands Trust Act, the Local Government Act, the Municipal Finance Authority Act, the Nisg̱a'a Final Agreement Act, the Police Act, the School Act, the South Coast British Columbia Transportation Authority Act, the Taxation (Rural Area) Act, the Treaty First Nation Taxation Act, the University Endowment Land Act or the Vancouver Charter;
Section 2 (1) (part) and (2) (part) BEFORE amended by 2016-3-65, effective March 10, 2016 (Royal Assent).
(1) Subject to subsection (2), the assessed value of an eligible property, for the purpose of its taxation under a designated Act, is to be reduced by the smaller of the following amounts:
(2) If an eligible property is a strata lot that is included in a strata plan, the assessed value of the eligible property, for the purpose of its taxation under a designated Act, is to be reduced by the amount determined by the following formula:
Section 2.1 (1) and (2) (part) BEFORE amended by 2024-13-258, effective April 25, 2024 (Royal Assent).
(1) Subject to subsection (2), if an eligible property is located in a rural area, the assessed value of the eligible property, for the purpose of its taxation under a designated Act, is to be reduced by the smaller of the following amounts:
(a) $500 000 less 15% of the amount by which the assessed value is over $4 000 000;
(b) 50% of the assessed value.
(2) If an eligible property referred to in subsection (1) is a strata lot that is included in a strata plan, the assessed value of the eligible property, for the purpose of its taxation under a designated Act, is to be reduced by the amount determined by the following formula:
Section 3 (2) (b) BEFORE amended by 2016-3-67, effective March 10, 2016 (Royal Assent).
(b) prescribing, with respect to one or more classes of property, the method or order of calculating the amount by which the assessed value of eligible property in that class is reduced under section 2 (1) or (2).