EDITOR NOTES: On Feb. 6, Metchosin council will table a draft budget with a 11.7 per cent tax increase.
City council recently tabled the 2023 draft budget that calls for a property tax lift of almost 9 percent. On Feb. 6 staff were asked to return with a proposal that reflects a 6.96 per cent increase for the city and VicPD.
It’s alarming when you drill down to the core of Greater Victoria, to find the City of Victoria itself recorded $60,000 median after-tax household income in 2020. It’s the lowest household income figure regionally we could find in the 2021 Census.
It’s also concerning when you consider that the Victoria Census Metropolitan Area (CMA) has a median after-tax household income of only $75,500.
By the way, a significant number of homeless live in Victoria who aren’t likely accounted for in the income tabulation. As the de facto regional police force, city taxpayers also pay the lion’s share of policing and issues around social disorder.
So, if you are a homeowner you will be hit with increased property taxes.
If you rent you will probably see increases given that landlords need to pay for maintenance, insurance, taxes, etc., and still make a return on their investment. With rent increases capped by the province at two per cent annually, there’s little incentive for landlords to provide or build housing.
If you are unfortunate enough to operate a business, your final commercial tax bill will be 3.64 times as much as a residential property per $1,000 worth of assessment.
If you consume goods and services, the businesses will be collecting more money from you, the customer.
Just compare the median after-tax median household income in Highlands ($105,000), North Saanich ($104,000), Oak Bay ($93,000), Saanich ($83,000), and Langford ($82,000). Sidney, populated by a high number of seniors, recorded $68,000.
Why does Victoria feel free to ignore the reality of these challenging economic times? Voters are flabbergasted that hiking property taxes by 9 per cent in the City of Victoria is even a starting point of discussion.
The new council needs a stern reminder of the large income disparity and ability to pay compared to all the neighbouring municipalities.
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Draft City of Victoria budget would mean 9% tax increase, Victoria Times Colonist, Jan. 22, 2023.
Households in Highlands have the highest median incomes in Greater Victoria, Goldstream News Gazette, July 2022.
Census Profile Victoria, 2021 Census of Population, Statistics Canada.
Council (and staff) need reality checks, Times Colonist Letters Jan. 19, 2023.
Victoria property taxes could increase by 9% this year, CTC Vancouver Island News, Feb. 1, 2023.
https://vancouverisland.ctvnews.ca/victoria-property-taxes-could-increase-by-9-this-year-1.6254610
Metchosin is tabling a 12% tax increase on Monday feb 6. So, 9% sounds pretty good from that perspective.
So if they don’t get it, will they just ram more density into downtown and James Bay to get additional funds ?
How many millions /billions do they have in their reserve ?
Unrelated: yes, our public washrooms are a disgrace.But how about 2 million to restore them instead of the proposed 14?
They do not require land acquisition, or permits, or neighbourhood consultation, so pls, what gives with this outrageous estimate ?