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
American millionaire Jonathan Lehrer denied bail after being charged with killing Canadian couple
American millionaire Jonathan Lehrer, one of two men charged in the killings of a Canadian couple in Dominica, has been denied bail.
Judge says 'no evidence fully supports' murder case against Umar Zameer as jury starts deliberations
The judge presiding over the trial of a man accused of fatally running over a Toronto police officer is telling jurors the possible verdicts they may reach based on the evidence in the case.
Nearly half of China's major cities are sinking, researchers say
Nearly half of China's major cities are suffering 'moderate to severe' levels of subsidence, putting millions at risk of flooding especially as sea levels rise.
LeBlanc says he plans to run in next election, under Trudeau's leadership
Cabinet minister Dominic LeBlanc says he plans to run in the next election as a candidate under Prime Minister Justin Trudeau's leadership, amid questions about his rumoured interest in succeeding his longtime friend for the top job.
Sports columnist apologizes for 'oafish' comments directed at Caitlin Clark. The controversy isn't over
A male columnist has apologized for a cringeworthy moment during former University of Iowa superstar and college basketball's highest scorer Caitlin Clark's first news conference as an Indiana Fever player.
Health Canada to change sperm donor screening rules for men who have sex with men
Health Canada will change its longstanding policy restricting gay and bisexual men from donating to sperm banks in Canada, CTV News has learned. The federal health agency has adopted a revised directive removing the ban on gay, bisexual and other men who have sex with men, effective May 8.
Prince Harry formally confirms he is now a U.S. resident
Prince Harry, the son of King Charles III and fifth in line to the British throne, has formally confirmed he is now a U.S. resident.
U.S. vetoes a widely supported UN resolution backing full membership for Palestine
The United States has vetoed a widely backed UN resolution that would have paved the way for full United Nations membership for the state of Palestine.
'Shopaholic' author Sophie Kinsella reveals brain cancer diagnosis
Sophie Kinsella, the best-selling author behind the 'Shopaholic' book series, has revealed that she is receiving treatment for brain cancer.