872 replies to this topic

[Tom Braybrook]

it may help to think of it this way

 

every dollar you have the province pay on your behalf is a dollar that they can't squander,

 

in the meantime, you put the proceeds of your investment into some social or green cause, maintaining the principal at amount equal to you ptax debt

 

presto - transforming government waste into public good

[LJ]

And why should I game the system just because I can?

It's not gaming the system, it's a legitimate tax strategy.

[Nparker]

Deferment is meant to be a way to help people that might have trouble paying their property taxes, especially low income seniors. I am not sure I feel entirely comfortable taking advantage of the program. That being said, if my property taxes were to take a sudden jump in the future, my morals may be more flexible in this matter.

[lanforod]

Newsflash. Your property taxes take a jump every year.

[sebberry]

Newsflash. Your property taxes take a jump every year.

 

Mine were in the neighborhood of $200 lower this year than last.

[Nparker]

Mine were also a bit lower in 2022 than 2021.

[lanforod]

You sure whine like it went up though 👀

[Nparker]

I "whine" because I see very little positive being done with my tax dollars. I'd be willing to pay more if better results were evident.

[LJ]

Deferment is meant to be a way to help people that might have trouble paying their property taxes, especially low income seniors. I am not sure I feel entirely comfortable taking advantage of the program. That being said, if my property taxes were to take a sudden jump in the future, my morals may be more flexible in this matter.

Every financial planner advises their high value clients to defer taxes.

[Ismo07]

Every financial planner advises their high value clients to defer taxes.

 

Yes it's like the safest deferment ever...

Edited by Ismo07, 02 February 2023 - 10:06 AM.

[Victoria Watcher]

9 Greater Victoria municipalities crack list of B.C.’s highest and lowest property tax rates

 

Living in Victoria, Saanich means paying over $1K more than other municipalities

 

 

A $1 million home in Victoria would cost $174.32 more than in Saanich but a home in Central Saanich would cost $1,672.85 more than one in North Saanich. For homeowners on the West Shore, that home would cost $645 more in Colwood than View Royal.

 

https://www.vicnews....erty-tax-rates/

[Harry]

The bills from the past Victoria City council have come due as well as all the crap that wasn't done or postponed. 90,000.00 dollar clover point furniture, miles of idiotic fencing on Dallas road, 5,000 dollar ping pong tables and all the other "great ideas" have to be paid for somehow. Its the business taxes that will be crushing for an already financially stretched thin business community in Victoria. I mean there has been a massive amount of "feel good projects" done but very little taxable or income producing things put forward. I am not surprised at the amount of the proposed tax increase.

[Mike K.]

Also, the City has huge sums of dollars in reserves. Why? Use that for your budget, then budget for what you wanted to spend reserves on in subsequent budgets to receive approval from voters on that expense.

[spanky123]

Also, the City has huge sums of dollars in reserves. Why? Use that for your budget, then budget for what you wanted to spend reserves on in subsequent budgets to receive approval from voters on that expense.

 

Problem is that during 'good times' the City was using its reserves to fund various social experiments. Now the reserves are depleted which is why staff are recommending that we add in a new reserve replenishment tax.

[JohnsonStBridge]

Also, the City has huge sums of dollars in reserves. Why? Use that for your budget, then budget for what you wanted to spend reserves on in subsequent budgets to receive approval from voters on that expense.

 

This proposal would be terrible financial planning. All you would be doing is punting financial woes down the road causing wild spikes in property tax anytime there is a unforecast drop in revenue or capital item due for replacement. Not to mention municipal governments are not allowed to borrow from reserves for operating purposes. Each reserve fund has to be created with a bylaw over the specific parameters of what it can be spent on. If managed and funded properly, they will allow municipal governments to avoid having to take on excessive debt.

[Mike K.]

What do we consider a 9% tax increase?

Is it a financial woe punted to current taxpayers, or is it a wild spike? It’s a huge sum of money when you’re talking about a ~$275 million operation.

[Victoria Watcher]

[Nparker]

Here's another opportunity to have your opinions ignored by the CoV during its current budgeting process: https://engage.victo...dget-priorities

[LJ]

What do we consider a 9% tax increase?

Is it a financial woe punted to current taxpayers, or is it a wild spike? It’s a huge sum of money when you’re talking about a ~$275 million operation.

Feel sorry for Surrey residents, 17% tax increase.

[Victoria Watcher]

Feel sorry for Surrey residents, 17% tax increase.

 

Well they have two police forces for some reason.

 

https://bc.ctvnews.c...-soon-1.6283007

Edited by Victoria Watcher, 23 February 2023 - 03:04 AM.