How much does Squamish depend on Woodfibre LNG's taxes?
Woodfibre LNG paid about 12% of the District of Squamish's municipal property taxes in 2026, up from 3% in 2025, as the plant's assessed value rose while it was built. It is the town's only major industry property. The District puts that extra money into reserves rather than daily operations, so the operating budget does not depend on it. [1] [2] [3]
Checked October 27, 2026 against District of Squamish records. Numbers link to their sources.
The numbers
Municipal property taxes only, from the District's tax rate reports. [1] [2]
| Year | Woodfibre LNG | All municipal taxes | Woodfibre's share |
|---|---|---|---|
| 2025 | $1.47 million | $49.7 million | 3.0% |
| 2026 | $7.24 million | $61.9 million | 11.7% |
The District's Woodfibre page says the company paid $7.7 million in 2026. The tax rate report shows $7.24 million levied on its property. Neither explains the difference. [3] [2]
Why it jumped
The plant's assessed value rose 391% from 2025 to 2026 as construction went on, from $11.8 million to $57.9 million. The tax rate stayed the same: $125 for every $1,000 of assessed value for major industry, set in 2024 when Squamish had no property in that class. [2] [1] [3]
For comparison, the District says the average major industry rate in B.C. communities that have one was $31 per $1,000 in 2026. When the pulp mill closed in 2006, the rate on that site was $58 per $1,000 and the mill paid about 16% of the town's municipal taxes. [3]
What the District does with it
District staff wrote that it is best practice not to rely on revenue from a single large business to fund ongoing operations. So the District puts Woodfibre money above what it planned for into reserves for one time spending: $1.5 million in 2025 and $5.8 million in 2026. [2] [4] [5]
The rejected deal and the court cases
Woodfibre has three legal cases against the District over its 2025 and 2026 taxes and other matters. In 2026 the District negotiated a 10 year deal worth at least $142 million: fixed payments of $117 million into a capital reserve, plus municipal taxes capped at $2.5 million a year (rising with inflation from 2028). The deal would have ended the court cases. [3] [6]
Council rejected it 5 to 2 on September 22, 2026. Councillors Andersen and French voted for the deal. So regular property taxation continues and the court cases go ahead. District staff said regular taxes could end up higher or lower than the deal. [7] [6]
What comes next
The new council sets the 2027 tax rates, including the major industry rate, in spring 2027. It could also try to negotiate a new agreement. [3]
Follow what council does next: Woodfibre LNG taxes and lawsuits, with every vote by member.
Sources
- District staff report, April 22, 2025: 2025 tax rate bylaw
- District staff report, April 21, 2026: 2026 tax rate bylaw
- District of Squamish: Woodfibre LNG agreement page and questions
- District of Squamish 2025 property tax notice insert
- Squamish Chief, April 24, 2026: financial plan amended with Woodfibre LNG revenue
- Squamish Reporter, September 18, 2026: the proposed $142 million agreement
- Squamish Reporter, September 23, 2026: council rejects the tax deal
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