Victoria property taxes could increase by 9% this year
Property taxes in Victoria could rise sharply this year as the city grapples with inflation.
Property taxes in the city could go up by nearly nine per cent this year.
City staff have recommended an 8.99 per cent increase in taxes to maintain the city's level of services.
The recommended increase is driven largely by inflation, salaries and supply chain issues.
Staff estimate that the higher taxes would translate to an additional $251 per year for homeowners, and more than $600 per year for a typical business in the city.
The proposed increase has not yet been discussed by city council. Councillors will debate the recommended increase Thursday.
One city councillor told CTV News they think the increase is too high.
"I know our food costs, our mortgage costs, our insurance costs, and I think this is something this council really has to consider," said Coun. Matt Dell.
Phil Nicholls, who owns a running store in downtown Victoria, says he wouldn't pass the new expense of higher property taxes onto customers, which would hurt his bottom line.
"Those are all costs, also, of running business," he said.
Bruce Williams with the Victoria Chamber of Commerce says that attitude likely won't be the norm among business owners.
"This is one more time where the cost of business will be passed on to the consumer," he said. "It's a fact. We see it every day."
An official statement on how much taxes will rise in the city will likely come in about a month.
Victoria Mayor Marianne Alto notes that city council has yet to decide what its spending priorities are for its new budget.
She adds that the city's current policy is to limit tax increases to the rate of inflation plus one per cent.
It's a policy the city may abandon given how high inflation is right now.
"The first thing we have to do is confirm what policy is going to drive our decisions, and then marry that with whatever our priorities could be," said Alto.
Last year, the city's tax increase was less than four per cent, says Alto.
CTVNews.ca Top Stories
Canadian gov't proposes new foreign influence registry as part of wide-spanning new bill
Prime Minister Justin Trudeau's government is proposing a suite of new measures and law changes aimed at countering foreign interference in Canada, amid extensive scrutiny over past meddling attempts and an ever-evolving threat landscape.
Boeing Starliner capsule's first crewed test flight postponed
The long-awaited first crewed test flight of Boeing's new Starliner space capsule was called off for at least 24 hours over a technical issue that launch teams were unable to resolve in time for the planned Monday night lift-off.
Teacher charged in historical sexual assault of Calgary teenage girl
Calgary police have charged a teacher with the alleged sexual assault of a teenage girl more than 20 years ago.
Winnipeg man admits to killing four women, argues he's not criminally responsible
Defence lawyers of Jeremy Skibicki have admitted in court the accused killed four Indigenous women, but argues he is not criminally responsible for the deaths by way of mental disorder – this latest development has triggered a judge-alone trial rather than a jury trial.
Man banned from owning animals after fatal Calgary dog attack
The owner of three Calgary dogs that got loose and mauled a woman to death in 2022 has been ordered to pay a $15,000 fine within one year and banned from owning any animal for 15 years.
East-end Ottawa family dealing with massive rat infestation
Residents in Ottawa’s Elmridge Gardens complex are dealing with a rat infestation that just won’t go away. Now, after doing everything they can to try to fix the issue, they are pleading with the city to step in and help.
Mediterranean staple may lower your risk of death from dementia, study finds
A daily spoonful of olive oil could lower your risk of dying from dementia, according to a new study by Harvard scientists.
An El Nino-less summer is coming. Here's what that could mean for Canada
As Canadians brace themselves for summer temperatures, forecasters say a weakening El Nino cycle doesn’t mean relief from the heat.
Newfoundland and Labrador latest province to tighten rules on Airbnbs
Newfoundland and Labrador is the latest jurisdiction to bring in stricter rules for short-term rentals, with a coming set of regulations that will force operators to register with the provincial government.