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Volume 50, No. 13

B.C. Reg. 221/2007

The British Columbia Gazette,

Part II

July 3, 2007

B.C. Reg. 221/2007, deposited June 21, 2007, pursuant to the ASSESSMENT STATUTES AMENDMENT ACT, 2007 [Section 69] and the ASSESSMENT ACT [Section 19]. Order in Council 492/2007, approved and ordered June 21, 2007.

On the recommendation of the undersigned, the Administrator, by and with the advice and consent of the Executive Council, orders the following:

1 Sections 12 (

a) and (

d) and 13 of the Assessment Statutes Amendment Act, 2007 , S.B.C. 2007, c. 13, are brought into force.

2 The Prescribed Classes of Property Regulation, B.C. Reg. 438/81, is amended as set out in the Schedule.

— R. THORPE, Minister of Small Business and Revenue and Minister Responsible for Deregulation; P. BELL, Presiding Member of the Executive Council.

Schedule

Section 1 (a) (iii) of the Prescribed Classes of Property Regulation, B.C. Reg. 438/81, is repealed and the following substituted:

(iii) a strata accommodation property except, subject to subparagraph (iii.1), if

(

A) the owner of the strata accommodation property has the right to use the property for 7 or more days in the 12-month period ending June 30 of the year previous to the taxation year for which the assessment roll is completed,

(

B) either

(

I) the owner exercises the owner's right to use that property, or

(II) in respect of more than 50% of the strata accommodation properties in the strata plan or contiguous strata plans, the owners exercise their right to use their property

for 7 or more days in the 12-month period ending June 30 of the year previous to the taxation year for which the assessment roll is completed, and

(

C) the owner of that property supplies the information as required under

section 11 in respect of the property,

the property is included in class 1 but not in respect of that part of a year equal to the number of days, if any, by which the number of days reported under

section 11 (

a) for the property exceeds 36 days,

(iii.1) a strata accommodation property in a strata plan or contiguous strata plans that is owned by an owner or, if the owner is a corporation, any affiliate of the owner, if the owner and any affiliates of the owner own more than 14 strata accommodation properties in the strata plan or contiguous strata plans, and .

2 The following sections are added:

Information required to assess strata accommodation property

11 The owner of a strata accommodation property must supply the following information to the assessment authority on or before August 31 of each year:

(

a) for the period beginning on July 1 of the previous year and ending on June 30 of the year, the number of days the strata accommodation property was rented as overnight accommodation as part of a period of rental of less than 28 days;

(

b) for the period beginning on July 1 of the previous year and ending on June 30 of the year, the number of days

(

i) the owner had the right to use the strata accommodation property, and

(ii) the owner used the strata accommodation property.

Strata accommodation property — prescribed percentage

12 The percentage prescribed for the purposes of the definition of "strata accommodation property" in

section 19 of the Assessment Act is 20%.

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