236_2017 — Restricted-Use Property Valuation Regulation

1

Interpretation and Application

s. 1 — Definitions

s. 1(1)

In this regulation:

s. 1(1) — Act

Act means the Assessment Act;

s. 1(1) — adjustment factor

adjustment factor, in relation to a property class, means the percentage change from the previous taxation year to the taxation year for which the assessment roll is completed, in the total actual value of all the property that is

s. 1(1)(a)

within that property class, and

s. 1(1)(b)

located within the same municipality or rural area, as applicable;

s. 1(1) — berth improvement

berth improvement means an improvement that is part of a single berth or double berth and that is used for the purposes of, or for purposes ancillary to or in conjunction with, the loading or unloading of vehicles and passengers onto or from a vessel, including the following:

s. 1(1)(a)

docks;

s. 1(1)(b)

piers;

s. 1(1)(c)

wharves;

s. 1(1)(d)

jetties;

s. 1(1)(e)

dolphins;

s. 1(1)(f)

floats;

s. 1(1)(g)

floating leads;

s. 1(1)(h)

ramps;

s. 1(1)(i)

components of an operating system for a ramp;

s. 1(1)(j)

abutments;

s. 1(1)(k)

wing walls;

s. 1(1)(l)

catwalks;

s. 1(1)(m)

piles that are

s. 1(1)(m)(i)

located in land covered by water, or

s. 1(1)(m)(ii)

supporting wharves or piers;

s. 1(1) — double berth

double berth means a berth in which vehicles and passengers may be loaded onto or unloaded from a vessel from 2 levels;

s. 1(1) — NAV CANADA

NAV CANADA means the corporation incorporated on May 26, 1995, under Part II of the Canada Corporations Act as NAV CANADA;

s. 1(1) — single berth

single berth means a berth in which vehicles and passengers may be loaded onto or unloaded from a vessel from only one level.

s. 2 — Interpretation of Schedule

In Schedule 1 or Schedule 2, as applicable,

s. 2(a)

an assessment roll number set out in Column 1 of the Schedule is the number on the assessment roll prepared by the British Columbia Assessment Authority for the 2026 taxation year, as at December 31, 2025, and

s. 2(b)

the facility names set out in Column 5 of the Schedule are listed for ease of reference only and do not affect the designation by assessment roll number.

s. 3 — Eligible persons

The following persons are prescribed for the purposes of the definition of "eligible person" in section 20.5 (1) of the Act:

s. 3(a)

British Columbia Ferry Services Inc.;

s. 3(b)

NAV CANADA.

s. 4 — Designated restricted-use property and actual value for 2026 taxation year

s. 4(1)

The property identified by the assessment roll numbers listed in Column 1 of Schedule 1 or Schedule 2, as applicable, is designated for the purposes of section 20.5 [special valuation rules for restricted-use property] of the Act.

s. 4(2)

The actual value of designated restricted-use property listed in Column 1 of the Schedule is, for the 2026 taxation year, the amount set out opposite in Column 2 of that Schedule.

s. 4(3)

The actual value of land and improvements that are designated restricted-use property listed in Column 1 of the Schedule is, for the 2026 taxation year, the amount set out opposite in Column 3 or 4, as applicable, of that Schedule.

2

Designated Restricted-Use Properties

1

British Columbia Ferry Services Inc.

s. 5 — Actual value for taxation years subsequent to 2026 — British Columbia Ferry Services Inc.

For a taxation year subsequent to the 2026 taxation year, the actual value of a designated restricted-use property used by British Columbia Ferry Services Inc. is the amount equal to the total of the following:

s. 5(a)

the actual value of the land that is part of the designated restricted-use property, determined in accordance with section 6;

s. 5(b)

the actual value of the improvements, or parts of them, that are part of the designated restricted-use property, determined in accordance with section 7.

s. 6 — How to calculate the actual value of land — British Columbia Ferry Services Inc.

For a taxation year, the actual value of land that is part of a restricted-use property referred to in section 5 is one of the following amounts, as applicable: actual value = (PAV × adjustment factor) + new land value

s. 6(a)

if, for the taxation year, the area of the land is smaller than the area of land that was part of the restricted-use property when the property was designated for the previous taxation year, the amount determined in accordance with the following formula:

s. 6(b)

in any other case, the amount determined in accordance with the following formula:

s. 7 — How to calculate the actual value of improvements — British Columbia Ferry Services Inc.

s. 7(1)

For a taxation year, the actual value of the improvements or parts of the improvements that are part of a restricted-use property referred to in section 5 is the amount determined in accordance with the following formula:

s. 7(2)

For the purposes of applying the formula set out in subsection (1), depreciation for a taxation year is, in relation to a designated restricted-use property, the total of all amounts each of which is an amount of depreciation applicable to an improvement or part of an improvement that is part of the designated restricted-use property, determined as follows:

s. 7(2)(a)

in the case of a berth improvement or part of a berth improvement, the amount that is equal to 3% of the replacement cost of the improvement or part;

s. 7(2)(b)

in the case of any other improvement or part of an improvement, the amount of depreciation, if any, determined by the assessor under section 19 (3) of the Act.

s. 7(3)

Despite subsection (2) (a), the maximum amount of depreciation applicable to a berth improvement or part of a berth improvement for a taxation year is the amount that is equal to 60% of the replacement cost of the improvement or part.

s. 7(4)

For the purposes of applying the formula set out in subsection (1) for the first taxation year following the completion of construction of a new single berth or double berth that is part of a designated restricted-use property referred to in section 5,

s. 7(4)(a)

the item in the formula described as PAV continuing must be reduced by the actual value, determined for the previous taxation year, of the berth improvements or parts of the berth improvements forming part of the new berth, and

s. 7(4)(b)

the item in the formula described as new improvement value must include the following amount, as applicable, as if none of the berth improvements or parts of the berth improvements forming part of the new berth had been part of the restricted-use property when it was designated for the previous taxation year:

s. 7(4)(b)(i)

in the case of a single berth, $640 000;

s. 7(4)(b)(ii)

in the case of a double berth, $2 700 000.

2

NAV CANADA

s. 8 — Actual value for taxation years subsequent to 2026 — NAV CANADA

For a taxation year subsequent to the 2026 taxation year, the actual value of a designated restricted-use property used by NAV CANADA is the amount equal to the total of the following:

s. 8(a)

the actual value of the land that is part of the designated restricted-use property, determined in accordance with section 9;

s. 8(b)

the actual value of the improvements, or parts of them, that are part of the designated restricted-use property, determined in accordance with section 10.

s. 9 — How to calculate the actual value of land — NAV CANADA

For a taxation year, the actual value of land that is part of a restricted-use property referred to in section 8 is one of the following amounts, as applicable: actual value = (PAV × adjustment factor) + new land value

s. 9(a)

if, for the taxation year, the area of the land is smaller than the area of land that was part of the restricted-use property when the property was designated for the previous taxation year, the amount determined in accordance with the following formula:

s. 9(b)

in any other case, the amount determined in accordance with the following formula:

s. 10 — How to calculate the actual value of improvements — NAV CANADA

s. 10(1)

For a taxation year, the actual value of the improvements or parts of the improvements that are part of a restricted-use property referred to in section 8 is the amount determined in accordance with the following formula:

s. 10(2)

For the purposes of applying the formula set out in subsection (1), depreciation for a taxation year is, in relation to a designated restricted-use property, the total of all amounts each of which is an amount of depreciation applicable to an improvement or part of an improvement that is part of the designated restricted use property, determined by the assessor under section 19 (3) of the Act.

Schedule

Schedule 1 [en. B.C. Reg. 232/2025, s. 4.] (British Columbia Ferry Services Inc.) Assessment Roll Designations and Actual Value for the 2026 Taxation Year

Schedule

Schedule 2 [en. B.C. Reg. 232/2025, s. 4.] (NAV CANADA) Assessment Roll Designations and Actual Value for the 2026 Taxation Year