The Town of Oliver will soon adopt another round of permissive tax exemptions to help organizations provide a valuable service.
Council recently reviewed a Permissive Tax Exemption Amendment Bylaw that hosts a new application from South Okanagan Integrated Community Services Society. This non-profit organization provides counselling, outreach services and transitional housing to people in need. As the application deadline for 2018 has passed, the society will receive its 10 per cent exemption in 2019. (Taxes assessed for the society were $7,950.92 – the municipal portion is $2,127.50).
The total permissive tax exemptions for 2018 is nearly $97,000. The list shows about 25 organizations, including the Oliver Food Bank, Royal Canadian Legion, United Church, Air Cadets and Oliver Community Arts Council.
It is estimated that tax exemptions for 2019 will be approximately $100,000.
It was noted that one organization, St. John’s Lutheran Church, has been removed from the exemption list because it has been sold and no longer operates as a church.
Council also reviewed the revitalization tax exemption of the new Coast Hotel in Oliver. Mayor Ron Hovanes said the exemption was a marketing tool to get the hotel built here.
Chief Financial Officer Devon Wannop said the hotel qualifies for a 10-year tax exemption, noting the construction value of the project was $9.7 million.
Based on 2018 tax rates, the exemption on this property would be approximately $32,200 in each of the 10 years (approximately $322,000 over the 10-year term).
Councillor Larry Schwartzenberger clarified the exemption is only on the municipal portion, noting the hotel still pays other taxes ($84,000) for policing, parks and recreation, schools, library, landfill, etc.
