EVENTS HAPPENING IN VICTORIA

Join the Chamber

THE CHAMBER

Consumers are 80% more likely to buy goods and services from a Chamber member. Your Membership means business. Join today.

Greater Victoria, BC News

ARTICLE

Date ArticleType
5/26/2011 Media Release
Property Tax Trend Unsustainable

MEDIA RELEASE

               

Property Tax Trend Unsustainable

May 26th, 2011 - Victoria, BC – The Greater Victoria Chamber of Commerce has reviewed property taxes in 7 municipalities and concludes that with the exception of Langford, a worrying trend is emerging. Mill rates in the region have increased by an average of 3.09%, and Langford’s rate decreased by 2.20%. While our region’s economy grows by a predicted 1.7% and household incomes rise by just over 2%, increases in municipal budgets in excess of this growth are ultimately unsustainable.

“Tax hikes of over 3% are far in excess of the GDP, average wage increases or any other economic indicators available.” said Bruce Carter, CEO of the Greater Victoria Chamber of Commerce. “Most businesses have had to adjust the way they do business in the current environment, finding ways to do more with less. The Chamber recognizes the tough economic conditions that the region has faced, and we believe that there needs to be a stronger emphasis on controlling spending amongst all municipalities, particularly alternative service delivery.”

The property tax bill for an equivalent size business ($774,000 assessed value) remains highest in the City of Victoria at $17,802 with the lowest in the region being Oak Bay at $11,257. Of note Langford comes in with a tax bill of $12,928 after the region’s only 2.2% tax reduction.  The higher taxes in the core are understandable as density and traffic counts are much higher than in the rural areas.  North Saanich did reduce its property tax ratio but actual tax on an equivalent business remains very high at $16,404.54 indicating that Municipality still has considerable work to do.

“The Chamber will continue to strongly advocate for reforms and a level of transparency that supports prudent spending, including a call for a municipal auditor general." said Carter.

The Greater Victoria Chamber of Commerce represents over 1,500 members and is the voice of business for the Greater Victoria region. The Greater Victoria Chamber has received Accreditation with Distinction from the Canadian Chamber of Commerce.

-30-

Background: Breakdown of Property Tax by Municipalities

For more information contact:

Ellen Henry                                                                                         Bruce Carter

Manager of Member Communications                                  Chief Executive Officer
Greater Victoria Chamber of Commerce                               Greater Victoria Chamber of Commerce

Email:    ehenry@gvcc.org                                                            Email:  bcarter@gvcc.org

Cell: 250-812-0510                                                                           Cell:  250-889-2271                                                         

CHAMBER
PARTNERS

Chamber of Commerce Group Insurance Plan University of Victoria Co-operative Education Program and Career Services