West Van goes to court over $20 valuation of Horseshoe Bay ferry terminal

The District of West Vancouver is taking the Property Assessment Appeal Board (PAAB) to court for determining that the district's Horseshoe Bay ferry terminal should ...

The District of West Vancouver is taking the Property Assessment Appeal Board (PAAB) to court for determining that the district's Horseshoe Bay ferry terminal should be devalued from $47.7 million to only $20.00 – a decision that will cost the district hundreds of thousands of dollars annually in property tax.

"We are appealing this unfair decision, which essentially means West Vancouver taxpayers will now bear the cost of fire, police, parks and roads services at the terminal," said district mayor Michael Smith.

Delta mayor Lois Jackson told media November 21 that her municipality is attempting to gain intervenor status in the case if it gets to court. She fears the decision will act as a precedent for devaluing Delta's Tsawwassen ferry terminal.

PAAB's late-October decision that the Horseshoe Bay ferry terminal should have such a low value is because the province has designated the site as only having one use: that of a ferry terminal.

In its ruling, PAAB reduced the previous 2012 assessed values for two Horseshoe Bay land parcels, which had been valued at $41.4 million and $6.3 million respectively, to $10.00 each. The decision is retroactive to 2010, 2011 and 2012 and will require the district to repay property tax revenues collected for the last three years.

PAAB made this determination after BC Ferries asked PAAB to take another look at the terminal's value.

Neither Delta nor Nanaimo has been given notice that BC ferries is appealing their terminals' property assessments.

gkorstrom@biv.com

@GlenKorstrom

comments powered by Disqus

More from Transportation

Driverless cars failing to gain traction with B.C. drivers

ICBC survey finds half of respondents unlikely to invest in self-driving cars

Read Article

New CEO docks at Westport

Co-founder Dave Demers steps down as CEO

Read Article

Ballard to power up more green transportation in China

‘Unprecedented market interest” for fuel-cell technology: CEO

Read Article

Canada's gateway to Pacific trade faces labour shortages

Workers either retiring, moving out of province or leaving industry.

Read Article

TransLink’s 100 grand salary club continues to grow

Metro Vancouver transportation authority releases financial report a week late

Read Article

Subscribe to our mailing lists

* indicates required

Newsletters

* You can modify your newsletter subscriptions at the bottom of any newsletter you receive.
×