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Vancouver Board discusses the property tax, the transition from homeowners – BC


Proposal to transfer two percent property tax liabilities from the city enterprises to residential property located in front of the city council in Vancouver on Monday.

The Board asked the staff to explore the idea and its consequences in December, as the rapid growth in property values ​​has left some small business owners are facing tax bills, which have doubled in just a few years.

Staff recommends that the cities against the tax change, warning that add stress to the owner of the house, and the benefit of large corporations who are not in need of assistance, as well as small businesses. Homeowners also had a chance to weigh in on the shift.

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Companies occupy only seven percent of the properties in the city, but are responsible for 45 percent of the tax bill in Vancouver. Companies that do not own their properties are still surprised, because most commercial lease agreements to pass a tax bill to the tenant.

Small business owners say that something must be done, and soon.

Shelly class, owner of Boutique blushing on Richards Street, told Global News her taxes doubled in five years.

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"It really affected our business in a negative way. Our sales are not twice, unfortunately. So it takes a lot of things, such as my advertising budget, or my ability to get new equipment, "she said.

"If small businesses, local businesses are important to you, you can not continue to increase taxes as it is. He puts us right from the market. "

Blaine McNamee, owner Rufus guitar, said his taxes in half for two years due to "pure speculation" and the value of the property based on what could be done with his property, not that the building It is actually worth.

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But McNamee said shifting taxes from business to home owners can unfairly penalize already struggling resident, and claimed the city should get creative with the tax decision.

"If we could take some of the cameral tax existing companies, especially companies that have old buildings, which really does not cost $ 10 million, when we could take some of this tax and transfer it to new developments to cover it, I think that it will encourage young entrepreneurs to stay in the city, "he said.

"That would make it more affordable to start a business, and it will not put a strain on the local business owners."

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Business Improvement Association has done its job on Monday advice to West Broadway BIA speaking adviser that he had seen 75 businesses close in 2015 – many citing the growth of tax bills.

Paul Sullivan, a property tax consultant Burgess, Kohli, Sullivan and Associates, said CKNW-x Lynda Steele Show part of the problem now lies on the shoulders of the provincial government.

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"Now the Council is concerned about the transfer of the tax burden on residents of the business, because the NDP Carole James Download our residents have a $ 100 million more have additional school taxes," he said.

«NDP attacks the municipal financial system to the point where they removed the device and the ability to take care of our own affairs."

potential tax burden could cost residents from $ 40- $ 80 a year, but Sullivan said it could lead to a difference in the amount of $ 500 to $ 600 in lower taxes for business.

C files with Tanya Beja

© 2019 Global News, a division Corus Entertainment Inc.

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