Saturday, February 07, 2009

Can't pay, won't pay, Catalyst tells towns

read article: Times Colonist
The municipalities could eventually take over the properties for non-payment of the taxes. Catalyst's reaction to that possibility is a shrug. It would have to borrow another $23 million to pay its coastal property taxes and gives no indication it will. The firm has come up with its own version of a fair tax bill (about a quarter of what's owing). It will submit that come July, then wait to see what happens.

Company president Richard Garneau told the provincial government last month that the company isn't bluffing. 'Municipalities may see Catalyst's position as a negotiation,' he said. 'It is not.'

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