September 18, 2014 - 5:11 PM
PENTICTON - Four local organizations were added to the list of tax exempt properties, even though they didn’t originally qualify under the city policy.
Council made a motion to add four organizations—The Paternal Order of Eagles, The Penticton Minor Hockey Association, Army, Navy and Air Force Veterans in Canada, and the Senior’s Drop-in Centre—to the list of non-commercial groups eligible for permissive tax exemptions. Combined, these organizations will get nearly a $13,000 tax break.
While the groups are not eligible under the city policy, it is up to the discretion of council whether they receive the tax break or not, said Colin Fisher, the city’s Chief Financial Officer.
The Pendo Society also applied for a tax exemption, however it did not meet criteria nor did council add it to the exemption list. The Pendo Society rents out parking stalls which is considered a commercial business, Fisher said.
To qualify, organizations must “suffer financial hardship if the tax exemption is not approved,” or have less than $100,000 in funds, Fisher said.
There is no limit as to how many organizations can be approved through the application process or through election from council, he said. Organizations, excluding places of worship that automatically receive a three-year tax exemption term after applying, must apply and be approved for tax exemption by council every year.
Council will address the issue again on October 6, and will approve a final list during the last council meeting of October.
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News from © InfoTel News Ltd, 2014