I want to re-affirm my commitment that regardless of personal attacks on my home or political attacks from my opponents, I will not abandon the taxpayers’ interests.
A significant number of enquiries have been made on what the cost to taxpayers (both residential and business) will be if the City and union were to agree to the regional mandate of 17.5% wage increase over five years. In reality, this translates into a compounded wage increase of 18.7%.
According to Councillor Peter Ladner, Chair of City Services and Budgets Committee, if we do not adjust service levels and simply pass along the 18.7% wage increase as new property taxes, the implications will be as follows:
- By 2011, the average business owner in the City of Vancouver will face a cumulative increase in their property taxes of $3290 while the average residential homeowner tax bill will rise by $303.
- Had the City negotiators accepted an earlier proposal by CUPE, this would have translated into a $400 increase in taxes to residential homeowners in Vancouver. For business owners, the property tax increase would have been $4300.
In addition, a number of you have asked me to clarify whether Vancouver is the last municipality to sign a collective agreement with our CUPE locals. I can report that the following jurisdictions have not yet signed a collective agreement – Coquitlam, Langley City, Langley Township, Lions Bay, Maple Ridge, New Westminster, Pitt Meadows and the GVRD.
VANCOUVER SUN article
1 comment:
Perhaps the mayor has not heard of inflation? Wage increases are necessary to cover the rising cost of living. In Vancouver especially this is necessary as living costs skyrocket with rising property values.
Over the next 5 years, my rent will increase 4% each year, compounded. For my one-bedroom apartment, this amounts to a total increase of $164. Assuming a "residential home" to be equivalent to a 3-bedroom residence, this would add up to an increase of $492 over the same period. So yes, a rise in property taxes of $300-$400 seems quite reasonable.
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