Panel data provided by Madison's Canadian Lumber Reporter.

P.G. In For Share of Grants- in- Lieu- of- taxes

By Elaine Macdonald

Prince George is one of  71 municipalities  that will receive a share of $18.6 million from the BC Buildings Corporation as grants-in-lieu of property taxes for 2005.

Minister of Labour and Citizens’ Services with responsibility for BCBC, Michael de Jong,  made the announcement today.  For Prince George it will mean $1,794,957.09.

Grants-in-lieu have traditionally been the way the Province compensates municipalities instead of paying taxes on provincial property.

Grants are based on the assessed value of properties owned by BCBC in each municipality.

Each municipality sends a portion of its grant-in-lieu to its regional district, and those local governments use the money to help pay for local services.

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