BC Assessment is committed to providing, fair, accurate and reliable assessment services and property information for British Columbia. As part of honouring that commitment, we are writing to request your assistance in alerting your members of two aspects of tax law that have caused significant concern for some purchasers of private managed forest land:
- Purchasers of managed forest land may be responsible for paying taxes on timber previously harvested by the Vendor; and,
- Purchasers of managed forest land may be responsible for paying exit fees to the Managed Forest Council if the property is removed from managed forest class.
Attached is our ‘IMPORTANT NOTICE: Purchasers of Private Managed Forest Land’. Please distribute this Notice to your members at your earliest opportunity.
More information on understanding Managed Forest Land Classification and Assessment, is noted below and available on our website at bcassessment.ca/managedforest:
If you have any questions or concerns regarding this letter, its enclosure or other managed forest land assessment issues, please contact me by email to managedforest@bcassessment.ca or phone at 1-866-valueBC (825-8322), Ext 22245.