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Province waives income requirements for farmers, ensuring none face tax hike due to pandemic

Reference: CBC News

Farmers in B.C. struggling financially due to the COVID-19 pandemic can breathe a small sigh of relief as the province has waived its minimum income requirements this year.

Farmers must meet certain criteria in B.C. to have their properties classified as a farm. One of those requirements is generating a minimum amount of gross income based on the size of their land every two years.

If not, landowners could be at risk of losing their farm status.

It would be a costly reclassification, as farm status lowers property taxes due to the land being assessed at a lower value than residential, commercial or industrial.

"Our government is committed to helping farmers farm, and we are working to create a strong and resilient food system," said Lana Popham, minister of agriculture, in a release... Read More