Quote:
Originally Posted by chowhou
To be fair, CoV and surrounding municipalities have almost criminally low property taxes as a share of home value.
Compare the CoV 2021 mill rate of 2.92250‰ with the property taxes they pay in New Jersey.
Those aren't mill rates. Those are just rates. If you lived in Trenton, NJ and owned a home with an average Vancouver house price of $1,250,000, you'd be paying $64000 a year in property taxes or $5400 a month.
We complain about property values, but no one complains about the fact it costs almost nothing to hold property. Would it hurt to tax and spend a little to keep our city amenities from literally falling apart?
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COV wouldn't be so short of cash if they didn't cover other levels of government. Straight from city hall staff the city spent 15% of budget on provincial/federal responsibilities.
City of Vancouver spent $219 million on provincial and federal responsibilities in 2021
https://dailyhive.com/vancouver/city-of-vancouver-downloaded-provincial-federal-costs
"Expenses that are traditionally the responsibilities of the federal and provincial governments accounted for the equivalent of almost 15% of the City of Vancouver’s annual operating budget.
The municipal government is increasingly being criticized for taking on responsibilities that are beyond its mandate, which come at the expense of its basic municipal responsibilities and service levels, and places upward pressure on property taxes.
Based on city staff’s recent breakdown of expenses, upon the request of city council, following the approval of a motion by independent city councillor Sarah Kirby-Yung, the municipal government spent at least $219 million in “downloaded” costs from senior governments in 2021."