Mr. Speaker, the B.C. Assessment Appeal Board ruled that a company leasing federal waterfront property in North Vancouver will no longer be assessed at market price, reducing by 50% the annual municipal taxes paid by this industry, forcing repayment of $2.6 million in taxes previously collected.
The city and district of North Vancouver could lose several million dollars more in taxes, loss of certainty for future tax revenues, putting municipal programs and services at risk and putting pressures on residential and business taxpayers.
We need both a healthy competitive port and financially sustainable municipalities. Will the Minister of Transport commit to discussing this matter with his provincial counterpart?