Vancouverites support lower property taxes for business
For Immediate Release: March 20, 2006
Vancouver , BC – Seventy-six per cent of Vancouver residents believe it is unfair that businesses pay six times the tax rate they pay, and 73 per cent believe that Vancouver’s tax ratio between business and residential taxpayers should be in line with the regional average. These findings – from an online survey by the Vancouver Fair Tax Coalition – come at a critical time, as the City of Vancouver determines the municipal budget and property taxes for 2006.
The survey’s key findings include:
- 45 per cent of business owners considered relocating to another municipality because of high property taxes.
- 91 per cent of residents agreed that local neighbourhood businesses are important.
- 75 per cent of respondents agreed that the City of Vancouver should hold property taxes for business owners to the 2005 levels.
- 60 per cent of homeowners would consider a municipal property tax increase of $50 to $200 in 2006 to correct the unfairness in tax rates between business and residential taxpayers.
“It is clear that Vancouver residents are very concerned about the state of local businesses. The majority of Vancouver businesses are small and overburdened by high property taxes,” said Ed Des Roches, co-chair of the VFTC and a local business owner. “City council promised to lower the tax burden on business, but we have yet to hear from them. Council needs to show leadership and set things on the right course.”
The Vancouver Fair Tax Coalition has asked the City of Vancouver to immediately hold municipal property taxes for business owners to 2005 levels for the 2006 year. This would give Vancouver’s business community and the city time to work out a long-term solution to permanently lower the tax burden on business.
Vancouver businesses pay municipal property tax rates at nearly six times the rate paid by residents. This is almost double neighbouring municipalities, and the highest rate across the country.
“Residential property growth is outstripping business property growth in the city,” added Des Roches. “ Vancouver residents like to live, work and play close to home. Yet it is very disturbing to see that commercial growth and employment are not keeping pace with population growth. This impacts livability within our city.”
A total of 670 residents, homeowners and business owners completed the survey in February 2006. The survey assessed property tax facts in Vancouver, opinions about Vancouver’s property taxes, and support for solutions to lower the property taxes for business. A summary of results is posted at Other News.
The Vancouver Fair Tax Coalition represents more than 43,000 local businesses and affiliate associations concerned about the high municipal property taxes they pay.
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