Port Place Gets Refund of $78,211.41
Port Place Mall has been successful in appealing their property assessments for the years 2010 and 2011 with an appeal for 2012 still outstanding.
They received a refund of $41,481.78 for the 2010 taxation year and $36,929.63 for the 2011 taxation year and as noted their 2012 appeal is not yet resolved.
It is not uncommon for commercial property owners to file appeals with the BC Assessment Authority in an effort to have their properties fairly valued for the purpose of taxation. It is a practice for the most part ignored by residential taxpayers as some seem to delight in seeing the assessed value of their home increasing thinking it means they are better off. In fact, that increased wealth is only 'on paper' and will mean they have the privilege of paying more taxes.
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