Victoria property tax increases have been almost three times the rate of inflation in the last decade. This should be the number 1 election issue for city voters.
An average residential property tax of $1,000 in 2002 is now $1,522 in 2011 based on the City of Victoria tax information. That’s an increase of more than 52 per cent.
This rate of increase is expected to continue according to the city’s budget forecasts for the next five years in spite of a residential and commercial building boom which has added significant tax revenues to the city’s coffers.
Where has the windfall revenue gone?
Residents will also face significant property tax and rent increases for sewage, infrastructure and transit in the coming years.
As a retired senior, my pension increases have barely kept pace with inflation. Most working people have not seen their wages keep up with inflation.
Such property tax increases are not affordable for homeowners and renters.