Municipalities receive ICBC grants totaling $4.4 million — July 5

Thirty-one British Columbia cities, districts, and municipalities will receive ICBC grants in place of real property and business taxes totaling $4.4 million this year.

As a provincial Crown corporation, ICBC is not required to pay business and property taxes. Instead, communities receive annual grants that are equal to the taxes that would be levied if ICBC were a private business.

Grants are paid to communities with ICBC claim centres, administrative offices, and storage and salvage yards. The municipal grants vary according to size and location of the premises, and differences in local mill rates.

The following is a list of 2006 ICBC grants in place of taxes paid:

Abbotsford Burnaby Campbell River Chilliwack Courtenay Coquitlam Cranbrook Dawson Creek Fort St. John Kamloops Kelowna Langford Langley Maple Ridge Nanaimo New Westminster North Vancouver (City) North Vancouver (District) Penticton Prince George Prince Rupert Quesnel Richmond Saanich Smithers Surrey Terrace Trail Vancouver Vernon Victoria

$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $

144,490 237,800 9,329 79,803 87,187 458,139 12,290 10,131 9,855 66,881 93,910 38,877 71,569 70,849 140,132 254,239 859,557 168,187 23,654 91,631 20,386 10,967 248,586 75,972 42,246 180,496 21,034 33,524 640,235 29,801 184,647

For more information contact:
Doug Henderson
604-982-1332

Copyright © 2008 ICBC - Insurance Corporation of British Columbia