Under the framework of the FMA, a First Nation creates its real property taxation system by making two laws: a First Nation Property Taxation Law and a First Nation Property Assessment Law. A First Nation must have both of these laws in place before it can levy and collect property taxes. The property assessment law establishes the property assessment system.
In Canada, over 30% of First Nations have property tax powers and are responding to community needs and providing local services to thousands of property taxpayers. The First Nations Tax Commission (FNTC) is a shared-governance First Nation public institution that supports First Nation taxation under the First Nations Fiscal Management Act and under section 83 of the Indian Act.
The First Nations Finance Authority (FNFA) is a statutory not-for-profit organization without share capital, operating under the authority of the First Nations Fiscal Management Act, 2005. The FNFA’s purposes are to provide First Nations governments investment options and capital planning advice and—perhaps most importantly, access to long-term loans with preferable interest rates. The FNFA is not an agent of Her Majesty or a Crown corporation and is governed solely by the First Nations communities that join as Borrowing Members.
The following videos are part of the #BeyondTransfers series and debuted at the 2018 National Meeting.
“Fiscal power allows us to do what works for us.” -Tulo Centre Chair, Chief Michael LeBourdais.
Fiscal power provides decision making power, financial security and autonomy as a government and community. When a community has fiscal power, they can contribute towards service jurisdictions such as education, health, land management and other local services. It’s the foundation of the jurisdiction based fiscal relationship.