property, according to the latest report issued by CFIB. The trend exposed in this report is alarming. In 1990, the average property tax gap was 1.80. By 2009, the gap has reached 2.94 to 1. It’s worse in BC’s major municipalities where 82 per cent of the population live: the average gap is 3.30 to 1. The worst offenders are Coquitlam (4.98 to 1), Vancouver (4.84 to 1) and North Vancouver City (4.09 to 1). This means that for an average property in Vancouver worth $944,916, a resident pays $3950 and a business pays $18,376. “Our local economies and jobs are at stake if they don’t act. Municipalities must freeze business property taxes and cap the gap at a sensible 2 to 1 ratio. If they don’t, the province must step in and impose the cap,” stated Brian Bonney, BC Director.http://www.cfib-fcei.ca/cfib-documents/rr3118.pdf Property Tax Report (2010)
1 comment:
When will the CoV politicians say anything on the issue-ie lets have their individual opinions. Moreover lets hear from our lame duck Chamber of Commerce that seems afraid to express its opinion-and also the DVA-are they afraid of City Hall?
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