When construction value exceeds $50,000, property developers must pay a Development Cost Charge (DCC) prior to obtaining a Building Permit. These fees are used to fund capital improvements to the sewer, water, drainage, and road infrastructure and the acquisition of parkland and open spaces.
The table and chart below displays a comparison between municipalities including local tax rate, development cost charges, and municipal charges using an example of a light industrial building; 10 acres of land, 50,000 square foot building.
|wdt_ID||COMMUNITY||LAND||IMPROVEMENTS||INDUSTRIAL TAX RATE||TOTAL TAXES||DCC RATES (Per Sq Metre)||TOTAL DCC||TOTAL MUNICIPAL CHARGES|
|3||Maple Ridge||8,000,000||2,611,000||11.88010||126,060.00||12.15.+ 3,794 /HA||71,792||197,852.00|
|4||Langley Township||8,000,000||2,611,000||8.9839||95,328.00||66.12||307,13 7||402,466.00|
Business tax rates in the City of Chilliwack are less than neighbouring communities. Property tax rates are calculated by the City of Chilliwack. The City of Chilliwack also offers revitalization tax incentives.
|wdt_ID||Municipality||Municipal Business Tax Rate|
With a low corporate tax rate of between 2.5% and 11%, in addition to several tax incentives and credits, as well as some other tax breaks, BC is among the lowest major industrialized nations.