COPE city
Councillors David Cadman and Ellen Woodsworth are concerned about the tax shift
included in the 2009 budget, which moves taxes from business to residential property
owners. “Residential home owners will be seeing a significant tax increase,
well-above 2% inflation,” says Cadman. He continues “we need to remember that
this tax shift doesn’t just hurt home owners – the costs inevitably get passed
to renters who are already having a difficult time with the extremely low
vacancy rate in our city.”

 

Councillor Cadman proposed that
Council suspend the 1% property tax redistribution for this year which will
result in a 7.89% tax increase for residential and a 3.87% tax increase for
non-residential, following on a 19.7% tax increase for residential taxes over
the past three years and a

1.6% tax increase for non-residential taxes over
those same three years.

“The City of Vancouver must address
the legacy of deficits created by the former council and other factors but
we should not continue the previous Council’s tax shifts onto the shoulders of
residents who are hurting due to the recession"
said Councillor Woodsworth.  Adding that, " the
overwhelming majority of citizens surveyed opposed such tax shifts".

 

Both
councilors argue that it is important for Council to halt the shifting of taxes
from business to residents that began in 2005 under the NPA. Continuing with
this shift could see
homeowners
pay 52 percent to businesses’ share of 48 percent within the next few years.

 

Woodsworth
and Cadman will continue to work for the creation of a new taxation class to
support small business, noting that Vancouver has only one business tax
class that does not differentiate between large corporations and small
businesses.

COPE Councillors Oppose Residential Tax Increase

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