Nov 18, 2012 / 7:52 am
Four Okanagan communities will take in more than $500,000 in grant monies in lieu of property taxes.
The government announced Friday grant-in-lieu payments will be made to Kelowna, Penticton, Vernon and Lumby.
Typically, the province distributed grants-in-lieu of property taxes every November as a way to reimburse communities for land owned by the provincial government.
These include courthouses, provincial government office buildings, ambulance stations and warehouses.
Schools and hospitals are exempt from paying property taxes and are excluded from grant-in lieu as are highways, forests, parks or land under the control, management or administration of a Crown corporation.
Amounts are paid to each municipality based on that municipalities tax rate and assessed value of the property.
Those amounts to the four Okanagan communities include:
- Kelowna - $338,037
- Vernon - $91,841
- Penticton - $85,887
- Lumby - $3,636
"Grants-in-lieu provide much needed funding for local governments, allowing them to invest extra money into meaningful projects," says Citizens' Services and Open Government Minister, Ben Stewart.
"These funds have a huge impact on communities throughout British Columbia because they help municipalities to continue providing services residents and businesses rely on."
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