The CEO of Squamish Terminals has written to the District of Squamish asking for a tax break for the terminals in 2018.
“As you all too well, we are into the 2018 assessment and taxation cycle. Our assessment increased to $23, 640,000 keeping the terminal the second highest assessed property in Squamish,” wrote Terminals president Kim Stegeman-Lowe.
“The benefit we expected from a depreciation of our improvements was nullified by increase in land value, adjusted cost update and IDC factors applied by BC assessment for 2018 that were higher than those applied in 2017, and additional improvements of $57,000 directly related to dock reconstruction before application of cost update and IDC factors,” she said.
Lowe said the competitive environment of the Squamish Terminals remains unchanged from last year.
“Change in the provincial government following the last elections have forestalled our efforts to achieve the favorable treatment our competitors under the Port Improvement (Berth Corridor) Tax Exemption Regulation.
As a consequence, in these turbulent times for the terminal, we are seeking an extension of the tax relief the District of Squamish were able to provide for the 2017 tax year, she said.
Lowe appeared before the council in 2017 and made a case for tax exemption, citing disadvantages compared to competitors located within the Port of Vancouver because of different tax structures as well as loss incurred because of the fire at the Terminals.
Donny says
Wow, my assessment went up too , all because I added a bedroom to the house.
Had to because another member of the family joined us.
Unfortunately I can’t depreciate the cost as a charge against my income to reduce my income tax.
Come on Terminal , you want your cake and eat it. Maybe you should sell your land for a fortune to build condos and avoid paying your dues like the rest of us.
Gord says
Can I get a tax break too?
Should would nice to have one so I can put it towards all the other tax increases.
And how about stop the tax breaks for churches too.
Parm Singh says
I need tax break because I can’t make enough money to send my kids to college or university. I need tax break because I can’t pay to my dentist to fix my daughter’s teeth. If Squamish terminal can’t pay taxes then how come middle class family pay there property taxes? Now Squamptons need property tax break too.
Dave Colwell says
Here, here to all of the above posts. But you are wasting your time….They don’t care about us and it will happen.. So many times we hear the whining about the lack of a large corporate tax base in this town and this kind of thing happens.