“Property Tax Assessment of Oil and Gas Facilities in British Columbia – Current Issues and Emerging Trends”

James D. Fraser
Canadian Property Tax Association Conference

Under the B.C. Assessment Act, R.S.B.C. 1996, c.20, the actual value and depreciation for property tax purposes of most of the components of oil and gas facilities including wellsite production equipment, gathering pipelines, gas plants and refineries is assessed by BC Assessment using regulated costs or rates prescribed by the government and designed by BC Assessment in accordance with the statutory and regulatory requirements of the Act. This paper provides a general overview of the statutory framework relevant to assessment and classification of oil and gas facilities in B.C., and reviews recent caselaw reflecting emerging issues in this regard.