Peace leads real estate

The first half of the year was a busy one for farm property transactions, with BC Ministry of Finance data released this month indicating an 88% increase in transaction volume to 975 deals.

While the value of those properties isn’t disclosed, the regional breakdown was.

According to the numbers, the Peace was both the most active region as well as the one that saw the greatest uptick in deal activity over last year. The region saw 289 deals close in the first six months, up 292% versus the same period last year.

The only other region to see greater growth in activity was the Kitimat-Stikine, thanks to a low number of trades – just three, a 300% from a year ago.

The second most-active region was the Fraser Valley, with 110 deals, a mere 78% increase from a year ago.

However, several regions saw double the activity seen last year, led by the Central Kootenay region with 132% growth to 29 deals in the first half of this year, followed by the Central Coast and Mount Waddington regions, with 110% growth to 76 deals.

According to Farm Credit Canada, the Kootenays have seen strong demand from urban buyers seeking affordable land and space. Many have entertained visions of setting up small-lot farms, contributing to the rural economy if not commercial production.

Demand on Vancouver Island remains strong, also reflecting the exodus from urban centres that took place during the pandemic.

However, larger farm properties continue to require significant capital outlays beyond the means of many younger growers. With farmland values continuing to increase, the sales are driven by well-capitalized individuals or operations.

The data do not reflect the aggressive increases in interest rates seen in both June and July. Many observers expect them to temper purchasing, especially by those purchasing for recreational use rather than production.

BC Ministry of Finance data only tracks sales on which property transfer taxes are paid. The numbers do not include share sales, in which land trades within the company that owns it.

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BC Supreme Court has blocked an attempt by remaining BC Tree Fruits Cooperative members to amend a rule that would have excluded former members from receiving their share of the co-op’s remaining assets. In her ruling, Justice Miriam Gropper called the bid to amend Rule 125, which would allow 32% of the surplus to be distributed among former members based on tonnage shipped to the co-op during its last six years of operation, “oppressive and unfairly prejudicial.” The co-op closed in July 2024, and remaining assets are estimated at between $12 and $15 million.

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From our Country Life in BC family to yours, HAPPY FAMILY DAY!

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Full-time students employed in BC agriculture during the summer season are eligible to apply for a bursary of up to $3,000. The bursary, administered by the Investment Agriculture Foundation, aims to increase youth and domestic seasonal worker employment in the ag sector. Funding is awarded on a first-come, first-serve basis. More information is available at tinyurl.com/5ef6pe3m

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BC fruit and vegetable farmers are being asked to share their views on farming technology in a 10-minute survey from Royal Roads University and the University of the Fraser Valley. The survey looks at how fruit and vegetable farmers are adopting emerging farming technologies -- such as digital tools, “controlled environment agriculture systems” (greenhouses) and agri-genomics (DNA analysis) -- to cope with changing climate conditions. The survey takes about 10 minutes to complete, and participants will be eligible to win an assortment of $50-$200 gift cards.

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The District of Coldstream is proposing the creation of farm property tax subclasses to distinguish between small-scale and large-scale farm operations. Currently, all farms are classified as Class 9 regardless of size or infrastructure needs. The district argues larger farms require more municipal services and should be taxed accordingly. It plans to pitch its proposal at the Southern Interior Local Government Association convention in Revelstoke at the end of April. Support there could escalate the discussion to the Union of BC Municipalities convention next September in Vancouver.

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Which municipal services do they require more of? Even larger farms typically still have only one or possibly two dwellings. Most have their own well and septic, and I suppose it depends on location, but most rural properties don't have garbage pick up either. And whether 20 driveways or one join the road, the cost to plow that road is the same. I no longer live within a municipality so of course there could be costs I've overlooked that are contributing to the District's proposal.

Large farms put more back into the community too.

The larger farms are the only farms paying wages, allowing people to spend money in their communities, the beauty of a network of small business. Small farms more often then not, is a single transaction, a hobby. Large- buy feed, raise cow, calf is born, sell calf, pay wage(support livlihoods), buy fence posts, buy more feed and so forth. Feeding the community. Small- Buy feed, raise cow, kill cow, eat cow.

And this is why farmers left California. British Columbia is no different

I am not sure how to post the actual Resolution that Council Pat Cochrane put forward but here is the link to the special meeting they are holding to pass the resolution: www.coldstream.ca/government-bylaws/news-alerts/notice-special-council-meeting-3.

Why not find ways to bring in more business's and audit municipal spending and regulate short term rentals (because Coldstream has essentially zero places to stay technically, insane) instead of raising taxes arbitrarily because "bigger costs more"

Attending that meeting, they claimed that “large farms” use more municipal services, yet Cochrane consistently stated he was going after “smaller estate properties not actively farming.” This is not only contradictory but misinformed. It would take him but three door knocks before he learned that the “estate farms” not actively farming are typically leased to a larger conglomerate to maintain farm classification. “Rural living at its finest,” though it seems not a soul on council is well-versed in this wheelhouse. What’s worse is that they somehow don’t think it’s necessary to bring in a single subject expert before blindly tossing around recommendations and solutions to problems that don’t really exist—or at least not as they perceive them. Don’t get me started on their rhetoric comparing the value of class 9 properties to other residential classes, when even my 12 year old understands that the values are drastically different when one property can be subdivided, and an ALR property cannot. Forever to the left of the point.

They want to tax a large farm more? Do people realize that farmers aren't becoming rich. Also, a small or hobby farm isn't contributing much to the local economy or community. This doesn't make sense. If we don't support our farmers. We need them. We can't import all our food.

What bs. I can't do a water and sewer hook up for an agricultural building, (a farm vegie stand) on a 160 acre farm in downtown Kelowna because there is already one at the far end of the lot for the principal residence. What extra infrastructure would they be talking about. Our irrigation is by licensed ground water well put in, powered and serviced by me. Any change in tax code should be on farm estates that do bogus farm gate sales at the minimum requirement, not viable commercial farming enterprizes that employ and contribute economic benefits to so many other businesses

Instead of increasing property taxes on large farms, I think governments need to revise the threshold needed for a property to qualify for farm status. That threshold has not changed in over 20 years and many non farmers are taking advantage of the ridiculously low threshold that was intended for real farmers.

And then you tax the farmers more and wonder why food prices keep going up. Why is it that the only thing government does is find more reasons and ways to tax people?

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