The municipality of Coldstream recently acceded to the wishes of Coldstream Ranch's owner to reduce the property tax multiplier (ratio to residential rate) for the farm properties.
The multiplier for farms (Class 9) was reduced from 4.5 to 1 to 2.5 to 1.
Basically in half.
Then, not a month later, Mayor and Council feigned surprise that agriculture's land values remained where B.C. Assessment had set them...at 1984 land values!
Feigned surprise?
Yup, considering that two councillors (Maclean and Enns) are bona fide farmers!
Plus anyone can access the B.C. Assessment website and search by address, for the land and improvement values for the upcoming year.
As reported in the Morning Star on March 20th, "It seems to me that someone at the provincial level should be deciding that it's time for a provincial review of the land values," said non-farmer councillor Cochrane.
The article continues: "Land rates range from $50/acre to $2,400/acre in Coldstream."
You can bet the farm that the $2,400 per acre is not farmland.
"There are 413 properties with farm assessment within Coldstream, with a net value of $9.1 million. Of those properties, 106 are owned by Coldstream Ranch, with a net value of $3.3 million.
Only $3.3 million?
When the sale price 25-something years ago was rumoured to be $13 million?
"Look up fake surprise in the dictionary; you may see a photo of Coldstream's mayor," chuckles Kia.
Councillors--and farmers--Maclean and Enns have likely stopped chuckling at this point.
And are gazing at their hands.
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