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Its mandate is to provide property assessment values for property owners in the province. This information is primarily used in the calculation of property tax payable to the provincial government or relevant municipality in British Columbia. In 2009, some $6 billion (CAD) was raised in B.C. from property tax levies.
Bill 28, the Miscellaneous Statutes (Housing Priority Initiatives) Amendment Act, 2016, is a British Columbian law that came into force on August 2, 2016. The law was introduced after calls urging the British Columbia provincial government to intervene in the housing market and curb foreign investment that was seen as a major contributor to the rapid rise in home prices.
A property tax, millage tax is an ad valorem tax that an owner of real estate or other property pays on the value of the property being taxed. Ad valorem property taxes are collected by local government departments (examples are counties, cities, school districts, and special tax districts) on real property or personal property.
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The following outline is provided as an overview of and topical guide to British Columbia: British Columbia is the westernmost of Canada's provinces. It lies between the Pacific Ocean to the west and the province of Alberta to the east.
The LTSA's Land Title Register is BC's official legal record of private property ownership and contains over 2 million active titles to land and over 2 million active charges. Surveyor General Division – maintains the quality of the land survey structure of the Province and issues Crown Grant documents that transfer Crown land into private ...