Friday, June 13, 2008

Property tax increase unsustainable

According to a Canadian Federation of Independent Business report, property taxes in BC have increased by 33% between 2000-2006, but population growth and inflation have increased by only 20%.

Some cities have seen property taxes rise by more than twice the level of inflation and population growth.

Victoria's Mayor Alan Lowe said," Costs have gone up dramatically everywhere; our policing costs are skyrocketing."

Mayor Lowe neglected to mention Victoria's per resident policing cost is higher than Vancouver's per resident policing cost.

Per resident costs don't tell us why costs are higher, but the between-city difference certainly makes for eyebrow raising comparisons.

If property tax increases at twice the level of population growth and inflation, eventually people will no longer be able to afford to live in their homes. It's time for a property tax cap, to create an environment of spending discipline at City Hall.

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