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
Laws that could get Canadians in trouble in tourism hotspots
There are some laws in popular tourist destinations around the world that could land Canadian travellers in mild-to-serious trouble if they're not careful. Don't let these local laws land you in hot water during your next vacation abroad.
DEVELOPING Jasper evacuees forced into B.C. to flee fires told to make U-turn to Alberta for aid
Thousands of wildfire evacuees forced from Jasper National Park into British Columbia along smoke-choked mountain roads Monday night were directed Tuesday to make a wide U-turn and head home if they needed a place to stay.
Polar bear at Calgary Zoo died by drowning following 'crushing' injury
The Wilder Institute/Calgary Zoo has revealed the cause of death for polar bear Baffin last week.
Edmonton gas station employee found guilty of terrorism charges in the U.K.
An Edmonton man has been convicted of multiple charges under the Terrorism Act in the United Kingdom.
Trudeau hand-picking candidate in Montreal byelection riles aspiring contenders
Prime Minister Justin Trudeau's decision to hand-pick a candidate for a riding in an upcoming Montreal byelection isn't being well-received by three aspiring contenders who spent months campaigning only to be shunted aside.
Celine Dion lands in Paris amid reports of performance at the Olympics
Speculation is mounting that Celine Dion will make an appearance at the Paris Olympics after landing in the French capital days before the opening ceremony.
Quebec mom devastated after man who killed her daughter in hit-and-run gets out after 5 months
A Montreal-area mother is furious with Quebec's justice system because the man who killed her 25-year-old daughter in a 2022 hit-and-run was released from jail after only serving one-sixth of his sentence behind bars.
U.S. Secret Service director resigns after Trump assassination attempt
The director of the Secret Service resigned Tuesday in the aftermath of the assassination attempt against former U.S. president Donald Trump that unleashed an outcry about how the agency failed in its core mission to protect current and former presidents.
Waterloo, Ont. woman out thousands after car totalled in hit-and-run
A woman in Waterloo, Ont. is out thousands of dollars for a car crash she wasn’t involved in.