I hope everyone had a great holiday. Maybe you received something aviation related and were able to take advantage of the recent crisp, clear, cold weather we've been having and were able to bore some holes in the sky?
The next COPA Flight 6 meeting will be postponed until Tuesday, January 9th as the usual meeting date of Tuesday, January 2nd. is too close to New Year's.
This month's meeting topic has proved challenging to arrange as a couple of guest speakers were unavailable for this date. Having said this, an important situation has popped up on the field at CYYJ. Some of you may have heard the news that if you are a hanger owner BC Assessment has notified you of massive jumps in assessed value on both land and building. The valuation is being increased by 2.5x this year 10% on land, but 533% on buildings. Essentially, what has happened is that between the two years, they have changed the hangar classification from a Cost Valuation, with depreciating buildings, to an Income Valuation, whereby hangars are taxed based on square footage, rent per square foot, and a CAP rate.
If you are an owner or are an expert in this area, I urge you to attend the meeting to discuss this situation.
As always, we meet in the pilots' lounge at the Victoria Flying Club starting at 7:00 PM and you neither need to be a member of the Victoria Flying Club nor COPA Flight 6 to attend.