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May 17, 2004 Port forms solid core of municipal tax base: report
Vancouver: A new study indicates the Port of Vancouver forms a major component of the tax base of the municipalities it borders. The study, written by InterVISTAS Consulting and prepared for the Vancouver Port Authority (VPA) shows port property taxes comprise up to 23 per cent of the tax base of port municipalities. "Municipalities have a vested interest in the success of port business. This study conclusively demonstrates the economic benefits that the Port of Vancouver injects directly into municipal coffers," said Captain Gordon Houston, President and Chief Executive Officer, VPA. "The Port of Vancouver is a vital contributor to municipalities. In 2003, port property taxes totaled $156 million across Canada with $118 million for Greater Vancouver municipalities."
The Port of Vancouver borders on eight municipalities. In 2003, port property taxes accounted for 23 per cent of budgeted tax revenues in the City of North Vancouver, 20 per cent in the District of North Vancouver, 16 per cent in the City of Port Moody, 8 per cent in the Corporation of Delta, 5 per cent in the City of Vancouver, 3 per cent in the City of Burnaby, 2 per cent in the District of West Vancouver and 1 per cent in the Village of Belcarra. "As we move forward with ambitious plans to make transportation a leading industry for this region, it's clear we all have a stake in ensuring the Port of Vancouver remains competitive and prosperous and receives the cooperation necessary to help us realize this goal," Houston said. "Progress has been made to date with recent changes to port municipal taxation and we commend the provincial government for this initiative, which has helped spur local investment in terminals and infrastructure." The Port of Vancouver is Canada's largest and most diversified port, trading $29 billion in goods with more than 90 trading economies each year. Port activities generate 62,000 jobs in total with $1.6 billion in Gross Domestic Product and $3.5 billion in economic output. Last year, 66.7 million tonnes were shipped through the Port of Vancouver. -30- Port of Vancouver Property Tax Contribution to Municipal Tax Revenues in 2003 Municipality/Region% of Municipal Tax Revenues Greater Vancouver Anmore, Village of 2.4% Belcarra, Village of 1.1% Bowen Island 0.0% Burnaby, City of 3.1% Coquitlam, City of 2.1% Delta, Corporation of 7.8% Langley, City of 2.6% Langley, Township of 1.6% Lions Bay, Village of - Maple Ridge, District of 2.8% New Westminster, City of 1.6% North Vancouver, City of 23.4% North Vancouver, District of 20.4% Pitt Meadows, District of 3.2% Port Coquitlam, City of 4.1% Port Moody, City of 16.4% Richmond, City of 1.9% Surrey, City of 2.7% Vancouver, City of 4.6% West Vancouver, District of 2.6% White Rock, City of 1.2% Fraser Valley Abbotsford, City of 0.7% Chilliwack, City of 0.4% Harrison Hot Springs 0.3% Hope, District of 2.6% Kent, District of 9.1% Mission, District of - Squamish-Lillooet Lillooet, District of 0.2% Pemberton, Village of 0.1% Squamish, District of 0.7% Whistler, Municipality of 0.2% Total Property Tax Generated by the Port of Vancouver in 2003 by Municipality or Region Municipality/Region 2003 Property Taxes ($ Thousands) Greater Vancouver Anmore, Village of $32 Belcarra, Village of $13 Bowen Island - Burnaby, City of $7,693 Coquitlam, City of $3,156 Delta, Corporation of $9,371 Langley, City of $606 Langley, Township of $1,370 Lions Bay, Village of $20 Maple Ridge, District of $1,546 New Westminster, City of $951 North Vancouver, City of $11,332 North Vancouver, District of $18,572 Pitt Meadows, District of $420 Port Coquitlam, City of $2,178 Port Moody, City of $4,115 Richmond, City of $4,485 Surrey, City of $7,300 Vancouver, City of $42,589 West Vancouver, District of $2,208 White Rock, City of $258 Total Greater Vancouver $118,215 Fraser Valley Abbotsford, City of $733 Chilliwack, City of $228 Harrison Hot Springs $7 Hope, District of $165 Kent, District of $569 Mission, District of $232 Total Fraser Valley $1,934 Squamish-Lillooet Lillooet, District of $15 Pemberton, Village of $2 Squamish, District of $154 Whistler, Municipality of $146 Total Squamish-Lillooet $317 Rest of Canada Other British Columbia $14,467 Alberta $13,853 Saskatchewan $2,982 Manitoba $3,651 Ontario $174 Quebec $107 Total British Columbia $134,933 Total Canada $155,700 The complete report in Adobe Acrobat can be read here: For more information, please contact: Anne McMullin, Director, Corporate Communications and Public Affairs Vancouver Port Authority (604) 665-9069 (office) (604) 665-9073 (fax) (604) 218-1403 (cellular) anne.mcmullin@portvancouver.com For more information: For more information on any of these stories, call 1-888 PORTVAN. Or, send an email to: public_affairs@portvancouver.com |
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