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Taxes Due Today

By 250 News

Friday, July 02, 2010 03:58 AM

Prince George, B.C. – Today is the day your property taxes are due in Prince George.
 
The City has sent out around 29 thousand tax notices to collect a total of $109 million dollars in taxes.
Not all of that amount is going to the City of Prince George coffers.
 
About $73 million is municipal the balance is collected on behalf of the Regional District of Fraser Fort George, the Fraser Fort George Hospital District, School taxes and B.C. Assessment.
 
Failure to pay your taxes on time today could see you paying an additional 5% penalty. If  taxes aren’t paid by September 10th, you would pay an additional 5% penalty.

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Comments

I think the getting more bang for the taxpayers' buck movement will really pick up speed in this country once the housing market in Canada starts its "United States style meltdown", and more economic pain is felt in this country. A lot of people understand what is going on in our economy as evidenced by the huge response of the anti-hst movement, but unfortunately a equal number of people are still partying like it's 1999 and buying homes, toys, and gadgets using the cheap money which is available, as evidenced by the record high levels of household debt in this country. The following is from a May 11, 2010 news article:

" Neither recession, global uncertainty nor growing joblessness appears to have stayed Canadians’ appetite for spending money they don’t have.

A new report by the Certified General Accountants Association of Canada shows that household debt in the country kept rising through the recession and peaked in December at $1.41 trillion.

That’s $41,740 on average per Canadian, or debt to income ratio of 144 per cent that is the worst among 20 advanced countries in the OECD.

“This report is another indication of Canadians’ readiness to consume today and pay later,” says association president Anthony Ariganello."

http://news.therecord.com/article/710131

I think the following article does a good job of explaining what the current state of the Canadian housing market (and by extension the Canadian economy) is:

The title of the article is "One broken refrigerator away from default.

http://www.metronews.ca/toronto/comment/article/568352--one-broken-refrigerator-away-from-default
Interesting articles. Since the Olympics, our local BC Government borrowed $1.9 Billion at 2.85% over 5 years. (A little trip to New York) It is cheap money, so who is really concerned about it? We have a debt based economy. Any way you look at it, if I reduce my debt and my borrowing, the different levels of government just increase theirs by borrowing on my behalf and pass the cost back to me.

It appears that most people don't really understand what they are doing when they buy bonds or (invest in Treasury Bills)? They are just lending money to someone who needs it.
With skyrocketing government debt levels in this country, eventually the "Romania solution" is going to have to come here.

"Romania will cut over 53,000 public jobs and slash pay in the remaining positions by 25 percent as part of a package of austerity measures aimed at reining in a ballooning deficit, officials said on Thursday."

The following is the link to the article which is entitled "Romania to cut 53,000 government jobs"

http://www.businessweek.com/ap/financialnews/D9GMCC382.htm