Progress on Property Tax Fairness Stalled: CFIB releases 2012 Municipal Property Tax Rankings and Report

CFIB Vancouver, June 25, 2012 – Progress in achieving property tax fairness for BC’s small business owners has stalled, the Canadian Federation of Independent Business' (CFIB) 2012 Municipal Tax Property Report shows. With property taxes due this week, this year’s study shows small business owners face payments that are, on average in BC, 2.78 times the rate of tax residential owners pay for the same value property. The difference in ratios is known as the property tax gap. This represents a barely noticeable improvement over last year’s results, which had small business owners paying 2.79 times the residential rate. “Seeing the gap effectively flat-line is worrying,” says Shachi Kurl, CFIB Director of Provincial Affairs. “An optimist would note that this is the third year property tax ratios haven’t increased. On the other hand, the failure to achieve greater reductions across the province does nothing to relieve small business owners’ concerns of a heavy tax load.” A recent survey found 69 per cent of CFIB’s members ranked their municipal property tax as the tax most harmful to their business. Six years ago, 38 per cent held this view. (more)

The Municipal Property Tax Gap Full report

Thompson Okanagan