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

Also Read

More From Transportation

The 65-minute flights can accommodate up to 34 passengers plus a flight attendant

Read Article

Jen St. Denis discusses Port Metro Vancouver's latest cargo shipping stats

Read Article

Labour issues at American West Coast ports helped bump up the total cargo handled at Port Metro Vancouver (PMV) in... 

Read Article

Jen St. Denis discusses Air Canada profits soaring as fuel costs drop

Read Article

Ian Adam, former City of Vancouver senior manager who was once in charge of the transportation department, is... 

Read Article

Subscribe to our mailing lists

* indicates required

Newsletters

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