Wednesday, April 25, 2007
Let's Talk about Taxes...
It seems to me we do things a little backwards sometimes. When the capitol budget rolls around, the city estimates what kind of services it needs to provide for the year then sets (or maintains) a property tax rate in line with this.
The problem is that shortly after that, the Province does its property assessments (which, to put it mildly, have tended to be high in recent years) and the net effect is that property taxes are significantly increased even if the tax rate remains flat.
So let's bring accountability back to the city. I propose we put forward a mini-budget to get us through to the timeframe after the assessments are in and then set a fair tax rate based on the current years assessments. So, if the assessments drive the taxes up the city can off-set this with a lower rate. This will take the guesswork and surprise out of the process and give people a fair and reasonable tax system.