Saturday, December 20th0.8°C
24563

No tax break for pot growers

The B.C. government says medical marijuana companies won't be able to take advantage of a property tax break that was designed for agriculture.

Mayors in B.C. have been raising concerns that marijuana growing operations could set up on expensive industrial land and then ask to be taxed as farmland.

The classification could dramatically reduce those companies' property taxes, in some cases by tens of thousands of dollars.

The province says it plans to exempt medical marijuana operations from the agricultural tax designation beginning in the 2015 tax year.

In April, new federal rules took effect that moved medical marijuana production to licensed commercial growers.

There are currently five operators in B.C. that have been approved by Health Canada, but the federal government has received hundreds of applications.

The Canadian Press

COMMENTS WELCOME

Comments on this story are pre-moderated and approval times may vary. Before they appear, comments are reviewed by moderators to ensure they meet our submission guidelines. Keep it clean, keep it civil, keep it truthful, stay on topic and be responsible. Comments are open and welcome for three days after the story is published. We reserve the right to close comments before then. Comments that appear on the site are not the opinion of Castanet, but only of the comment writer.



Read more BC News

24588


Recent Trending



24130

24469


23071

23960






Member of BC Press Council


23087