The Government of British Columbia is waiving minimum income requirements for existing B.C. farm operations, allowing them to maintain their current property tax farm status for 2021.
“Our government is committed to helping farmers farm, and we are working to create a strong and resilient food system,” says Lana Popham, Minister of Agriculture. “It’s been a difficult year for many people, and this change is just one more example of how we are recognizing the challenges and supporting farmers.”
The COVID-19 pandemic has been challenging for some B.C. farm operations, including smaller-scale farms that depend on roadside stands, farmer’s markets, and public interaction for sales revenue. Without this action, a number of properties would have been in jeopardy of losing farm status for the 2021 tax year, significantly increasing the property tax burden on those farmers and farm families, the province says.
In order to be classified as a farm in British Columbia, properties must meet certain criteria, including generating a minimum amount of gross income from a qualifying agriculture use based on the size of the parcel of land. This minimum income requirement must be met every two years and there must be some income generated every year.
For further information on farm class assessment, visit BC Assessment: https://info.bcassessment.ca/farm