Vision Vancouver says tax shift from business to residential properties will end in 2012
Relief is in sight for Vancouver homeowners groaning under the burden of property taxes.
The year 2012 will be the last in the five-year shifting of taxes from business to residential properties, a measure started in 2008 by the then-ruling Non-Partisan Association and continued by its successor, Vision Vancouver, after the 2008 election. Vision went on to win another huge majority on council in the election this fall.
“We will not be implementing further shifting this term,” Vision councillor Raymond Louie told the Straight by phone.
A staff report about the city’s 2012 budget indicates that at the end of the five-year levy redistribution, $23.8 million in annual property taxes will have been transferred off the back of businesses. During the past term, councillors with the Coalition of Progressive Electors consistently voted against the policy. No COPE candidate was elected to council in the latest balloting.
Adriane Carr, the first-ever Green Party of Vancouver member of council, supports the tax shift. She also thinks that a new round of tax redistribution should be considered after 2012. According to her, this move would lighten the costs of doing business in the city. “We’ve seen the closure of many, many small, independent, unique businesses, and I believe they are the most lively part of our community’s commerce,” Carr told the Straight by phone.
The urban-affairs policy group Think City has opposed the NPA and Vision’s policy of shifting taxes.
“It’s cost homeowners—by the end of the final year—$75 million in taxes being shifted to homeowners,” Think City chair Neil Monckton told the Straight by phone.
Dec 15, 2011 at 6:08am
Perhaps, it's time city councill starting reassessing how they are spending taxpayers money.
On one hand Residential owners' incomes are not increasing (unless you're a manager with fringe benefits).
And then Businesses are shutting down because of the increase in rent and increase in taxes.
So, stop using our money to decorate your office Gregor and making bikes lane. As if you are not making enough money with the parking meters. Take some responsibility sit down and figure out where you can cutback your expenditures. IE your salaries and other services. If others are living off minimum wage..I'm sure shaving off a few dollars off your salaries wont hurt too badly
Taxpayers R Us
Dec 15, 2011 at 6:15am
Why was reducing the taxes altogether never on the table?
You know your civic government is bloated and wasteful when...
Dec 15, 2011 at 8:28am
<i>She also thinks that a new round of tax redistribution should be considered after 2012. According to her, this move would lighten the costs of doing business in the city. “We’ve seen the closure of many, many small, independent, unique businesses, and I believe they are the most lively part of our community’s commerce,”</i>
Oh really? I charted the basic economic stats <a href="https://exile.wordpress.com/2011/12/02/whats-the-business-tax-shift-supp... </a>and I couldn't find any sort of effect from the tax shift.
Terry Martin NSV candidate
Dec 16, 2011 at 12:31am
I think Carr needs to look at the effect of the tax shift.Higher residential taxes cause rents to increase.we are at a crisis in residential rental affordability and that should be of the highest priority.As well most small businesses rent and it is an economic fact that costs trickle down while savings benefit the big property owners,the savings to commercial owners will not trickle down.The result will be that landlords increase rents because they know that thier tenants will pay what they have been paying.Also many of the empty small stores are centered around the stops for the proposed broadway line and are being held for investment/speculation.Ms. Carr,I think you should do more study on this subject before promoting higher costs for residential properties. While I have been very supportive of you and still am I think that you are very wrong on this issue.Oh and yes I think it is healthy to critisize your own party ore those you support when you believe they are wrong,as well as compliment your opponents when they are right.Glad to see vision commiting to end this tax shift that they saddled us with for far too long