370_2003 — Assessment Averaging and Phasing Regulation

s. 1 — Definition

In this regulation, assessment averaging or assessment phasing bylaw means a bylaw imposing tax rates under section 198 [assessment averaging and phasing options] of the Community Charter.

s. 2 — Restriction on property classes

An assessment averaging or assessment phasing bylaw is restricted to property classes 1, 5, 6 and 8.

s. 3 — Assessment averaging option

For assessment averaging under section 198 of the Community Charter, the tax rates may be imposed on the amount determined in accordance with the following formula:

s. 4 — Assessment phasing option

For assessment phasing under section 198 of the Community Charter, the tax rates may be imposed on the amount determined in accordance with the following formula:

s. 5 — Requirements before bylaw may be adopted

The authority to adopt an assessment averaging or assessment phasing bylaw is subject to the following requirements:

s. 5(a)

before January 1 of the year in which the bylaw is to take effect, notice of intent to consider the bylaw must be provided to the inspector and to the British Columbia Assessment Authority;

s. 5(b)

after January 1 of the year in which the bylaw is to take effect and at least 2 weeks before the adoption of the bylaw, a notice that describes the estimated effect of the bylaw on the taxation of sample properties within the municipality must be published in accordance with section 94 [requirements for public notice] of the Community Charter;

s. 5(c)

the bylaw must be adopted before March 31 in the year in which it is to take effect;

s. 5(d)

the bylaw must establish a procedure to allow property owners to complain to the review panel referred to in section 9 of this regulation about errors made in applying the bylaw to their property.

s. 6 — Variation and modification authority

s. 6(1)

An assessment averaging or assessment phasing bylaw may modify the averaging formula in section 3 of this regulation or the phasing formula in section 4 of this regulation to particular types of property within a property class.

s. 6(1)(a)

exempt from the bylaw, or

s. 6(1)(b)

govern the application of the bylaw to,

s. 6(2)

The authority under subsection (1) includes authority in relation to property with an assessed value that is different from that on the previous assessment roll because of one or more of the following:

s. 6(2)(a)

an error or omission;

s. 6(2)(b)

a subdivision or consolidation or a new development to, on or in the land;

s. 6(2)(c)

a change in

s. 6(2)(c)(i)

physical characteristics,

s. 6(2)(c)(ii)

zoning,

s. 6(2)(c)(iii)

the classification of the property under section 19 (14) of the Assessment Act, or

s. 6(2)(c)(iv)

the eligibility of the property for assessment under section 19 (8), 23 or 24 of the Assessment Act.

s. 7 — Application to taxes for non-municipal purposes

s. 7(1)

If a council adopts an assessment averaging or assessment phasing bylaw, the following rules apply:

s. 7(1)(a)

the assessed value or the net taxable value must continue to be the basis for determining the amount of money to be raised in the municipality for the purposes of the following:

s. 7(1)(a)(i)

section 197 (1) (b) [property taxes for other bodies] of the Community Charter;

s. 7(1)(a)(ii)

sections 119 and 137 of the School Act;

s. 7(1)(a)(iii)

section 17 of the Assessment Authority Act;

s. 7(1)(a)(iv)

sections 15 and 17 of the Municipal Finance Authority Act;

s. 7(1)(a)(v)

section 14 of the British Columbia Transit Act;

s. 7(1)(b)

the value determined under the bylaw, and not the assessed value or the net taxable value referred to in this or any other Act, must be the basis for taxing properties within the property classes specified in the bylaw to raise the money required under the provisions referred to in paragraph (a).

s. 7(2)

If then, despite any other enactment, the council must, by resolution, substitute a rate that is sufficient to raise the same amount of revenue in the municipality for that body from each property class to which the assessment averaging or assessment phasing bylaw applies as the amount that would have been raised for that body had that bylaw not been adopted.

s. 7(2)(a)

a body other than the council sets a rate under an enactment for calculating property taxes, and

s. 7(2)(b)

the council adopts an assessment averaging or assessment phasing bylaw,

s. 7(3)

If the amount of revenue raised in any year for a body under subsection (2) is more or less than the amount that would have been raised had the council not substituted the rate, the difference must be used to adjust the rate for the next year.

s. 8 — Notice of adjusted assessment

s. 8(1)

If the assessed value of a parcel of land on the assessment roll has been adjusted under an assessment averaging or assessment phasing bylaw, the tax notice under section 237 [general tax notices] of the Community Charter for the parcel must include, or have enclosed with it, a statement

s. 8(1)(a)

informing the owner that assessed values and tax rates have been adjusted as a result of the bylaw,

s. 8(1)(b)

specifying the adjusted value of the land and the value of any improvements on it, and

s. 8(1)(c)

describing the procedure for requesting the collector to correct errors and for complaining about errors to the review panel referred to in section 9 of this regulation.

s. 8(2)

On the initiative of the collector or on the request of an owner who is notified under subsection (1) of adjustments to the assessed value of the owner's property, the collector may correct errors made in applying the bylaw to any property.

s. 9 — Review panel

s. 9(1)

If a council adopts an assessment averaging or assessment phasing bylaw, it must establish a review panel in the same manner as a parcel tax roll review panel under section 204 [parcel tax roll review panel] of the Community Charter.

s. 9(2)

The review panel may

s. 9(2)(a)

adjudicate complaints about errors made in applying the bylaw to the assessed value of any property, and

s. 9(2)(b)

direct the collector to make any amendments to the adjusted value of the property that are necessary to give effect to the panel's decision.