FRIDAY
duly 21, 1995

ei Weekly Real Estate
listings: 33 — 64

& Bedtime delights |
for starry nights:. 11

Weather
Saturday and Sunday: Surry,
High 25'C, tow 15°C.

. NEWS photo Arad Ledwidge

EMERGENCY WORKERS spent about two hours trying to get this driver out of her
crushed car on Wednesday on Larson Road near Westview Orive in North
Vancouver. The teenager’ '$ legs were injured in the smash. See siory'on page 3.

| features —

<" Falconers visit -
Sumner club:

Tost drive the
iew Infiniti 130:

" Classifieds.

8) Crossword.

Hi inside Stories.

Lautens....... seven lB
oe

@ Sunshine Girl.
a Tide: ChAPES eco 30

Our Town: . :
Special 56-page North |
“Shore News feature,

Car crushed

Rail companies get property tax break

PORTIONS OF a wide- ~ranging bill
aimed -at keeping railways in British
‘Columbia competitive contain good
news and bad news for North S Shore | tax-
"payers.

By lan Noble —
News Reporter

First, the good n news.
BC Rail, a North Vancouver-based Crown

: corporation with. $1.5 billion in assets, will start

paying grants in licu of taxes to municipalities.

But thanks to an approximately 50% reduc-

tion in railway property taxes contained in Bill
55, BC Rail will pay fess than what maunicipali-
ties had hoped for.

‘Figures. provided. by’ West, Vancouver
» Garibaldi MLA David Mitchell, a strong propo: .
nent of the -grants program,’ reveal West
‘Vancouver. would get $268,860.79, North
Vancouver District $279,216.43 and Lions Bay,
$20,286.24 if. they were paid grants equal to full
Property tax.;

Under. Bi uy 35's property ax reduction,

imposed to help Canadian National Railways and
CP Rail remain competitive with their American
competition, municipalities can expect to get sig-
nificandy less, but still more than what they cur-
rently receive, which is nothing.

Still, said Mitchell, North Shore municipali-
ties will benefit from the new tax weatment in the

long-run thanks to more conipetitive rail compa- ©
a

nies; which are vital to port businesses on the
North Shore.

North : Vancouver: Lonsdale MLA
Schreck told che News Ottawa's phased-in can-
cellution of subsidies in the last budget exacer-

_ bated the economic pressure on rail lines, »

“If we had not done this we Would have lost a
significant aniount of: jobs in the Port. of
Vancouver, the Part of Prince Rupert, CN and CP
rail” said Schreck.

North Vancouver District will also be hit by
reduced property taxes for CN's property ia the
district.

Michact Hoskin, the district’s director. of

_ financial services, said the distriel nuw receives

$670,000 from CN in property taxes annually,
Under: new legislation, he expects thai to be

cut in half to $335, 000, or 8% of the. district's

David’:

total tax take.

The difference wil! be made up by reduced
services or other revenue sources such: as
increased taxation or BC Rail grants in lieu, said
Hoskin.

Hoskin also expressed reservations that the
legislation on BC Rails grants in ticu says “may.”
but Schreck said B.C. Rail will pay... « :

“They will do it, | assure you,” said Schreck,

According to the Union of British Columbia
Municipalities, CN ‘and CP currently pay $15
million to municipalities in property tax, |

“This move will effectively cut taxes by $15
lo $20. million per year or up to one- half” the

- UBCM added.

‘Gut Premier Mike Harcourt said the province
would take responsibility for 512 million of that.
for 1996 and consult with municipalities before
making any changes to the $8 million municipal-
ities must cover. ; :

“We either take that balanced and fair position
of we sisk losing the rail trensportation system in
western Canada.” Harcourt told the House July
We

But Liberal North Vancouver-Seymour MLA
Dan Farvis doesn’t buy that argument.
He' said he understands the competitive basi

See Tas page 5