At 44.9 per cent, Burnaby’s heavy industry tax rates were more than 22 times higher than its residential tax rates.
No one really thinks we should abolish all taxes. After all, how would governments fund important public services that form the foundation of our economy? Think of services like protecting property, building infrastructure, upholding the legal system, to name a few. The real debate is about the amount of taxes that governments extract from us given the services we get in return.
It's not your imagination. Your property taxes really are shooting higher.
For those who haven't paid attention to their property tax bill until recently, let me offer some calculations: Had the city and province stuck to inflation-only increases starting in 2007, a homeowner with a $2,500 property tax bill in 2006 would see a $2,858 bill this year. Instead, the charge will be $3,430, or an extra $572. The cumulative effect over seven years is an extra $1,538.