We have all received our new assessment notices. Many will see up to a 10% hike in their assessment and thus an increase in 2013 taxes prior to any mill rate increase. At the same time the city is giving away millions of dollars in grant money and tax abatement to a Vancouver-based company to build a 192-unit rental complex in the Montgomery Park area.
Councillor Pat Lorje questions why we are giving away money to create a problem down the road. Based on her comments from the re-zoning battle, I suspect the problem relates to the existing infrastructure and whether it can accommodate the increased traffic. Add to the equation Wally Mah's plan for a strip mall to accommodate this area and the re-location of the city yards and bus barns.
Where is the money going to come from to fix the problem?
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It is the same argument as the Movie industry wants to make. We have to give these incentives because everyone else does. This just puts the existing tax payer on the hook for these increased costs. In a growing economy such as ours we should be able to charge more to people to build here not less or give breaks. So next time my car goes kerplunk I'll thank progress.
ReplyDeleteI wish my new property assessment rose only 10%. Have lived in my home for 44 years and the increased assessment amounted to 95%!
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