Only accountants need run for council
If you thought the residential property tax increase of 9.34% was startling this year, consider there may be hikes of more than 40% before the next elected council finishes their term.
It doesn’t take an accountant to predict that taxpayers are in for a few more body blows.
If initial estimates are any indication, the 2026-2030 Financial Plan for Victoria forecasts municipal tax increases of 13.43% in 2027, 9.77% in 2028, 8.68% in 2029, and 7.5% in 2030. What’s often overlooked is the compounding impact of those increases.
On top of that, residential homeowners will again see a percentage added annually to the tax increase as a result of shifts to reduce the amount business pays. Last year there was a shift of burden in the tax rate of 1.2% and 2.1% in 2026.
These are very preliminary city estimates. They are based on various assumptions such as assessments, inflation, revenue, cost projections and other factors.
Remember, these forecasts exclude other items that comprise your total tax notice. It’s unlikely those taxes collected on behalf of schools and levies collected for five other agencies will decrease.
A case in point, for some unexplained reason this scribe’s new ‘residential school tax’ increased year-over-year by 500%. And that’s not a typo.
There’s clearly resonance in Steve Orcherton’s rant “Truth, truthfulness and property tax notice shock” when he argues that Victoria homeowners deserve the full truth about soaring tax increases.
The new council will be faced with tough choices and require an entirely new and frugal approach to governing to retain quality critical services. The fractured governance model across the region we are forced to endure is unsustainable.
Maybe the only council candidates to elect are accountants who can read a financial statement and demand more fiscal discipline?
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