Quote:
Originally Posted by chowhou
I'll help you catch up.
The City of Vancouver charges less property tax for Class 8 land. Developers are thus given incentive to convert their land to class 8 land to pay less property tax. Rather than incentivizing developers to utilize the land, the City incentivizes developers to have less of a rush to develop land and in fact leave land vacant for years. We do not want this, though it is incentivized.
Unless you can give me a compelling argument for all the class 8 land that we need to protect with tax incentives, you're out of luck here kid. Where are all the class 8 sites we want to give tax breaks to? Don't tell me you think the parks board pays property tax to the city.
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Class 8 doesn't just cover recreational property. It also includes land used by non-profit organizations. All places of worship, and meeting halls owned by fraternal organizations fall within Class 8, and pay taxes based on the Class 8 tax rate.
If there were two separate classes, it might allow the City to have a higher tax rate on the recreational properties, although I think there are also some privately owned recreational properties that pay taxes based on Class 8, and a higher tax rate would be an issue for those too.
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