And the Survey Says...
By Ben Meisner
Wednesday, August 10, 2005 04:01 AM
If you have been one of the businesses visited by the BC Assessment Authority in the down town core in recent weeks, don’t despair. This is an annual event according to the Assessment branch.
The Authority does a random look at the core area of the city to determine the vacancy rate. That rate, along with the amount of rent being charged per square foot, help form the basis of annual tax assessments.
In recent years the assessment in the core area of the city has been dropping dramatically.
At one time, the city's down town accounted for the largest single tax base in the city. That has been changing and that is reflected in the kind of rents that are being charged.
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There is no vision for the downtown and it shows.