Tax Rate Set

Monday, April 30, 2007 10:37 PM

Prince George City Council has set the tax rate for the municipal portion of your tax bill.

Although numerous options for tax rates were presented, it was option "A2" which was favoured by staff and the Finance and Audit committee.

That option sets the tax rate at 7.988 per one thousand of assessment. While it may be a the lowest residential rate since 1998, it comes at a time when residential assessments are very high. Residential assessments are up nearly 26% over the previous year.

The following chart shows the change in assessments for average homes in various parts of the city, the municipal taxes paid in 2006, and what the "A2" option will mean for taxes this year.

Street	’06 Assessment	’07Assessment	’06Taxes	"A2"	Increase
Norwood	$76,900	$100,100	$714.	*799.60*	$ 85.60
Heritage	$204,000	$253,000	1894.09	*2024.16*	$130.07
Pine	$114,600	$143,200	1064.03	*1143.88*	$ 79.85
Austin	$260,000	$315,900	2414.04	*2523.41*	$109.37
Arabian	$97,900	$134,300	908.98	*1072.79*	$163.81
Leyden	$144,600	$181,200	1342.58	*1447.43*	$104.85
Vista Ridge	$252,900	$318,000	2348.12	*2540.18*	$192.06
Carney	$100,300	$129,000	931.26	*1030.45*	$ 99.19
Ridgeview	$248,400	$311,200	2306.33	*2485.87*	$179.54
Rosia Rd	$212,700	$248,700	1974.87	*1986.62*	$ 11.75

The tax rate set this evening does not include the taxes that will be imposed by the School District, or the Regional District of Fraser Fort George.

According to this municipal tax rate, the Finance and Audit committee believes the property tax for the average single family dwelling will increase by $99.00. The average business property tax will incease by $811.00.

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Posted on Monday, April 30, 2007 10:37 PM in News by 250 News

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Comments

Posted by: YamaDooPolCat on April 30 2007 10:57 PM

Business taxes up by $811.00 over last year. Well that should help with the decay of the downtown area.

Or, maybe that is what the city wants? Businesses to walk away from their buildings downtown and turn the keys over to the city. That way the city could get more land to build something we really don't need and can't afford to run.

Posted by: acrider54 on May 1 2007 6:11 AM

Taxed to death, a person works just to pay taxes these days.

Posted by: owl on May 1 2007 7:44 AM

Do you have the faintest clue what the average total money that businesses pay for tax is YDPC? What does a $2 million property downtown pay in property tax? What does the Inn of the North pay in property tax? What about the Northern Hardware? or North 54? The latter's will certainly not go up by $811 ... I'd be surprised if it went up by $300.

PG has the lowest business tax in BC, or near the lowest. In Vancouver they are starting to lower it, so the residential tax is going up.

The residents of PG bear more tax burden than those in most other cities in BC. Perhaps you prefer we lower it some more and the the residentila tax increase even more.

Its gotta come from someplace YDPC. Its going to be either you and me as a buisness owner, or you and me as a residential property owner.

Posted by: kimbo on May 1 2007 9:28 AM

Go ahead and cry. Not one of you have the balls to go before council and tell them where to put it. Do you?

cheers