Todays Sun has an article about the municipal tax system in vancouver and the disproportionate load it puts on business owners. From that article:
Over on Burrard, not far from the bridge, Henry von Tiesenhausen of Commercial Electronics notes that, in a five-year period when the tax on his home increased 16 per cent (and when his company’s sales were flat) his business taxes rose 102 per cent.
“I have to ask the question,” von Tiesenhausen said in a letter to Mayor Sam Sullivan, “is it worthwhile even operating a business in the City of Vancouver?”
A growing number seem to be asking the same thing — and answering in a way no one wants to hear. While commercial growth in the city has long trailed residential, the last two years have seen a disturbing new trend. For the first time, more businesses closed than opened.
In general a condo tower consumes more in services than they pay for, while businesses pay more than the services they consume. With the huge number of condo projects downtown, and businesses shutting down should we expect property taxes to increase greatly to take up the slack, or should we expect the city to adapt its budget to spend less on services?