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Municipal Property Taxes


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#501 Mike K.

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Posted 30 November 2023 - 11:58 AM

You intimate that downtown is dying and very dangerous, other say the same thing. 

 

Oh my gosh, Ismo.

 

I have been very critical of how the issues have been addressed. I'm not going to sugar coat bad policy when I see it, and when I see it's impacts.

 

But to suggest I say "downtown is dying" and that it's "very dangerous" is a lie. Why are you doubling down? Just say sorry man, maybe I just overshot here. Why put words in people's mouths like this?

 

Geez.


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#502 Ismo07

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Posted 30 November 2023 - 12:24 PM

Oh my gosh, Ismo.

 

I have been very critical of how the issues have been addressed. I'm not going to sugar coat bad policy when I see it, and when I see it's impacts.

 

But to suggest I say "downtown is dying" and that it's "very dangerous" is a lie. Why are you doubling down? Just say sorry man, maybe I just overshot here. Why put words in people's mouths like this?

 

Geez.

 

Oh c'mon, you have made many comment insinuating the state downtown is in and we've had many discussions here about it.  You're personal anecdotes and you have said that you are scared of being downtown.  Recall I offered to walk you around so you would feel more safe?  The way and the number of comments you have about downtown can lead people into thinking that it is worse than it actually is.  I stand by my interpretation of what you been saying (and others mind you, not all about you but you fall into the camp).  This is what we do, interpret meaning.   If you want to be more clear next time then that's fine.  Why did you say I wouldn't agree with VV earlier when clearly I did.


Edited by Ismo07, 30 November 2023 - 12:25 PM.

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#503 Mike K.

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Posted 30 November 2023 - 03:05 PM

I stand by my comments, by I do not appreciate your hyperbole.


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#504 Ismo07

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Posted 30 November 2023 - 03:22 PM

I stand by my comments, by I do not appreciate your hyperbole.

 

None of it is hyperbole...


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#505 Victoria Watcher

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Posted 14 January 2024 - 03:38 PM

Nanoose Bay has some beautiful views on Vancouver Island, and in 2024 it may also end up with the largest property tax increase in the region.

 

The electoral area’s taxes are projected to rise 17.5 per cent, and some residents are taking exception.

 

______________________

 

Nanoose Bay is not alone. Vancouver Island’s largest cities and municipalities – including Victoria, Saanich and Nanaimo – are also projecting above normal property tax increases of roughly eight per cent, nearly double this year’s inflation rate.

 

Meanwhile, the Regional District of Nanaimo is projecting a 13.5 per cent increase spanning its properties from Cedar to north of Qualicum Beach.

 

 

https://www.cheknews...normal-1186047/



#506 Nparker

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Posted 14 January 2024 - 04:18 PM

Nanoose Bay’s taxes are projected to rise 17.5 per cent...Nanoose Bay is not alone. Vancouver Island’s largest cities and municipalities – including Victoria, Saanich and Nanaimo – are also projecting above normal property tax increases of roughly eight per cent, nearly double this year’s inflation rate...

And for some reason the socialists feel it is fair for the 2024 rent increase limit for residential tenancies to be 3.5%. 



#507 Awaiting Juno

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Posted 24 January 2024 - 01:56 PM

And for some reason the socialists feel it is fair for the 2024 rent increase limit for residential tenancies to be 3.5%. 

 

The really, really sad thing: they are unable to connect the dots on why supply of rentals is so limited. 

 

Bringing back fixed term tenancies would likely be very helpful. Converting to a rental insurance system rather than a damage deposit model would also be helpful. Rental rate increase caps just penalize those who set an initially low rent and make it really challenging if/when that tenant needs to move for whatever reason and creates a sticky market where people do not move as much as might be more efficient. A general policy of rental maximums might be better (ie: setting a maximum price that can be charged generally for specific unit types in specific areas). No fault termination of tenancy might also be helpful - with notice provisions that are in line with length of tenure. Setting different rules for suites in primary residences versus suites in exclusively rented buildings might also be helpful.


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#508 Mike K.

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Posted 24 January 2024 - 08:16 PM

A rent maximum would be a bureaucratic challenge. It would also stifle supply.

Consider how behind the government is on a whole litany of assessments.

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#509 Stephen James

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Posted 25 January 2024 - 09:27 AM

None of it is hyperbole...

are we pretending downtown is not becoming more dangerous?

thats funny


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#510 Stephen James

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Posted 25 January 2024 - 09:36 AM

 

Nanoose Bay has some beautiful views on Vancouver Island, and in 2024 it may also end up with the largest property tax increase in the region.

 

The electoral area’s taxes are projected to rise 17.5 per cent, and some residents are taking exception.

 

______________________

 

Nanoose Bay is not alone. Vancouver Island’s largest cities and municipalities – including Victoria, Saanich and Nanaimo – are also projecting above normal property tax increases of roughly eight per cent, nearly double this year’s inflation rate.

 

Meanwhile, the Regional District of Nanaimo is projecting a 13.5 per cent increase spanning its properties from Cedar to north of Qualicum Beach.

 

 

https://www.cheknews...normal-1186047/

 

Looked at the budget. Not one, single, attempt to reduce a single expense, the details are deliberately hidden, and they choose not to share prior year comparisons. (Yet they call it "essential", lol)

Pretty unethical and the worst transparency/disclosure I've seen in 5 cities, lol. The budget doc looks like a marketing piece for Alto and her 5 pets. Not the planning doc I'd expect.

 

Then, 2 biggest increases are government spending on government:

108% increase for the City Manager's Office.

30% increase for Communications.

 

A councillor told me last week, "no-one writes in or complains, and they're thrilled to assume silence is enthusiastic acceptance." This is why our taxes have gone up so much, and we're being told to expect a 50-100% increase over the next few years. Reminds me of:

 

"The price of apathy towards public affairs is to be ruled by evil men." Plato


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#511 Nparker

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Posted 25 January 2024 - 09:52 AM

...A councillor told me last week, "no-one writes in or complains, and they're thrilled to assume silence is enthusiastic acceptance." ...

I am calling out that councillor for obvious BS. I imagine lots of people complain, it just falls on some very deaf ears at the council table.


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#512 Stephen James

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Posted 25 January 2024 - 10:33 AM

I am calling out that councillor for obvious BS. I imagine lots of people complain, it just falls on some very deaf ears at the council table.

I've heard this from Stephen Andrew, Marg Gardner, Stephen Hammond, and even Carole James said, "we hear very little."



#513 Victoria Watcher

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Posted 29 January 2024 - 10:15 PM

Councillors Stephen Hammond, Chris Coleman and Marg Gardiner voted against the budget, while Alto, and councillors Matt Dell, Susan Kim, Jeremy Caradonna, Dave Thompson and Krista Loughton voted in favour.

“I think it’s too much of a lift,” said Hammond, whose proposal to significantly cut reserve-fund allocations to reduce the tax increase to just over six per cent was defeated Monday.

Hammond said projections suggest homeowners face property-tax increases totalling nearly 50 per cent in the next five years.

“I think that’s too much for the residents, the taxpayers, and the businesses who are taxpayers as well,” he said.

Coun. Chris Coleman agreed, saying council “needs to do more work.” “Sadly, this is probably the first time that I will have voted against the budget,” he said. “The lift, from my perspective, is too high.”

A series of amendments passed Monday managed to slightly whittle down the 8.37 per cent hike suggested by city staff’s draft budget to 7.93 per cent.

https://www.timescol...-passes-8180469

Edited by Victoria Watcher, 29 January 2024 - 10:16 PM.


#514 Nparker

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Posted 29 January 2024 - 10:57 PM

Meanwhile residential rent increases are capped at 3.5%. The burden on property owners is unjustifiable.


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#515 Mike K.

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Posted 30 January 2024 - 07:36 AM

I’m telling you, if the rental rate increase were tethered more equitably to municipal tax increases you’d see belt tightening.

We showed last fall how property taxes rose 50% over the span of a decade, at twice the rate of inflation, and during a period of rapid home building, meaning an averaging down of costs for all taxpayers. Now it’s 50% over the span of five years.
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#516 Victoria Watcher

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Posted 02 February 2024 - 05:38 AM

A quick lesson on house values and taxes

 

Just because our modest 1940 house has “increased significantly” in value as it has been our home for many years, does not mean we have extra dollars in our pockets to “contribute a bit more,” as “entirely reasonable” as it seems to Victoria Coun. Dave Thompson.

 

Claire Jackson

Victoria


Edited by Victoria Watcher, 02 February 2024 - 05:38 AM.

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#517 Nparker

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Posted 02 February 2024 - 08:30 AM

Does she think socialists have the mental capacity to understand that increased property value is not a liquid asset?
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#518 Ismo07

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Posted 02 February 2024 - 08:34 AM

Does she think socialists have the mental capacity to understand that increased property value is not a liquid asset?

 

Socialist just think if you have that much asset tied up you can sell and downgrade into a 400+ sq ft joint.  Be more liquid.



#519 Tony

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Posted 02 February 2024 - 08:38 AM

Rent vs Own ?

 

Their modest house has increased significantly. They have extra dollars in this value increase and have access to that increase if they choose.

 

Long term renters do not have any increased assets but still have to pay a potion of any property tax increase through their rents. (Although rent increases are controlled while they stay in the unit.)



#520 Mike K.

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Posted 02 February 2024 - 08:45 AM

Rent vs Own ?

 

Their modest house has increased significantly. They have extra dollars in this value increase and have access to that increase if they choose.

 

Long term renters do not have any increased assets but still have to pay a potion of any property tax increase through their rents. (Although rent increases are controlled while they stay in the unit.)

 

That's not quite right.

 

To access the funds, you need to have the necessary income to pay for a loan against the equity. The bank won't just hand you $250,000 if your mortgage obligation, debts, and monthly expenses cannot carry the debt of a HELOC. But a lot of people think if you have equity, the bank will hand out cash against it.

 

There are private lenders who will put your cash flow aside, but at very high interest rates for a loan, and they don't care if you lose your shirt. There is no free ride, anywhere. The Internet gets these sorts of things very wrong, often.

 

The majority of homeowners are not 'richer,' so to speak, when their home increases in value.


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