Harmac decides to pay $2 million in back taxes

Nanaimo Forest Products, owner of the Harmac pulp mill, has decided to pay $2 million of its 2009 property taxes to Nanaimo.

The board of the company decided that a provincial appeal board was likely going to decide Harmac would have to pay at least $2 million of its $2.8 million property tax bill.

Until that decision comes down later this spring, Harmac will hold off on paying the remaining $800,000 or the $274,000 that has accrued in financial penalties.

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Harmac pays $2 million in overdue taxes - Another $1.2 million in tax and penalties remains outstanding as mill owners dispute the current property value assessment (Nanaimo Daily News)