Policy 3.2.5 Natural Area Protection Tax Exemption Covenants

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ISLANDS TRUST CONSERVANCY POLICY MANUAL 
 
ISLANDS TRUST CONSERVANCY 
BOARD POLICY 
 
 
 
 
Policy number: 3.2.5 
 
Title:  Natural Area Protection Tax Exemption Covenants 
 
Approved By: Islands Trust Conservancy Board    
 
    Date:  July 10, 2002 Resolution #:  TFB 02/481 
 
Revised:    Date:  July 12, 2004 Resolution #:  TFB 04/704 
 
Revised:    Date:  Nov. 29, 2006 Resolution #:  TFB 06/878 
 
Revised:    Date:  Jan. 23, 2014 Resolution #:  TFB-2014-007 
 
Chair Signature: 
PURPOSE 
This  policy describes how  the Islands  Trust Conservancy  Board considers requests  to  hold 
conservation  covenants  associated  with  an  application  to  the  Natural  Area  Protection  Tax 
Exemption Program (NAPTEP). 
BACKGROUND 
Islands  Trust  Council  worked  for  8  years  to  create  a  property  tax  exemption  for  landowners 
who agreed to protect the natural values on their land.  In 1998, the Trust Fund Board (now the 
Islands  Trust  Conservancy) and Trust  Council  developed the  Natural  Area  Protection  Tax 
Exemption Program. In 2000, the Province amended the Islands Trust Act to allow Trust Council 
and Regional Districts to cooperatively establish a tax exemption program.  In 2002, the Islands 
Trust  Natural  Area  Protection  Tax  Exemption  Regulation (NAPTEP  Regulation) was developed 
and approved by the Province of BC. 
 
The  program,  known  as  the  Natural  Area  Protection  Tax  Exemption  Program  (NAPTEP), offers 
qualified landowners an exemption of 65% of the property taxes for the portion of the land that 
is  covenanted.  The  land  to  be  protected  must  qualify  as “eligible natural area property” as 
defined in the Islands Trust Act and the landowner must register a covenant under section 219 
of  the Land  Title  Act that  protects  the  natural  values  and  amenities  identified  in  the NAPTEP 
Regulation. 

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ISLANDS TRUST CONSERVANCY POLICY MANUAL 
 
SCOPE 
NAPTEP covenants will  be  considered in  accordance  with this  policy,  as  well  as ITCB Policy  2.4 
Conservation Covenants. 
POLICY 
1. The  Board administers the  NAPTEP  program  on  behalf  of  Trust  Council in  compliance  with 
the Islands Trust Act and applicable regulations, bylaws and policies. 
2. The  Board  will  continue  to  deliver NAPTEP subject  to  provisions  in the  annual  budget 
approved by Trust Council to cover the cost of promotion of the program, processing of all 
applications and monitoring and enforcement of all covenants. 
3. The  Board will accept  and  hold  covenants  on  lands  that  are  identified  as  having  the 
following   natural   area  values   and   amenities  as   defined  in   section  2   of  the NAPTEP 
Regulation: 
a. areas  that  are  relatively  undisturbed  by  human  activity  and  are good  examples  of 
one  or  more  of  the  ecosystems  described  in  the  Schedule  of  the  above  noted 
regulation; 
b. areas  that  are relatively  undisturbed  by  human  activity  and  are  key  h

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