BC Medical pot farms won’t get property tax break

Commercial medical marijuana operators in B.C. will not be allowed to claim farm tax status after the provincial government created a new business classification for the federally licensed facilities.

Coralee Oakes, minister for community, sport and cultural development, said the province came up with the new classification for the facilities after hearing concerns from B.C. municipalities.

Metro Vancouver directors earlier this month raised concerns that they could lose significant tax dollars under the scheme, while having to shell out for increased police and fire services.

The concerns arose after BC Assessment ruled that licensed commercial medical marijuana production could receive farm-tax status even if it wasn’t located on agircultural land.

But Oakes said today that medical marijuana will be rolled into a new business classification that will apply to all federally regulated narcotics.

“While this is new we have to look long term to make sure we are capturing the assessment piece,” Oakes said. “It’s large industry. The facility in Nanaimo is a $10 million to $15 million facility. It’s not a like mom-and-pop operation.”

Agencies/Canadajournal

Report an error

Issue: *
Found an error? Tell us about it! Invalid Contents Broken Links

Your Name: *

Your Email: *

Details: *

Submit Report