Tag Archives: Property Tax Rate

REALpac, tax watchers to ensure balance and fairness

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The “2010 Property Tax Rate Analysis” was released by the The Real Property Association of Canada (REALpac) illustrating the 8th annual survey of property taxes in the entire country. This was prepared by the Altus Group showing the property tax assessment of both residential and commercial across the country. The result of survey conveys the rise and fall of city taxes to monitor weather there is an imbalanced business going.

“REALpac continues to call on all municipalities to ensure that commercial and residential property tax levels are balanced and fair,” said Michael Brooks, Chief Executive Officer of REALpac.

The result shows that Vancouver still holds the place for the worst commercial to residential property tax ration in Canada for the fifth consecutive year now, with 4.42 to 1. However, Montreal had a 15 per cent raise in their commercial and residential property tax ratio for over two years. While Toronto and Vancouver drop to 8 and 9 per cent respectively over the same time frame.

Outside of the top three, Winnipeg, Edmonton, Calgary, and Halifax yielded ratio increases of 6.8%, 0.4%, 1.7%, and 1.4% respectively from 2009-2010. Ottawa posted a ratio decrease of 3.4% over the same period.

REALpac members value tax fairness. REALpac has incessantly advocated that continued reduction of the excessive property tax burden on commercial and industrial tenants and landlords will make Canadian cities more competitive and promote jobs and investment. Greater encouragement of commercial business and investment in the property assessment base will generate more stable and sustainable revenue for all cities.

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Plan to cap property taxes would break B.C. law, mayor says

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It’s a modest proposal to the Canadian Taxpayers’ Federation. But Saanich’s mayor says the province would have to break its own law if it were to heed the CTF’s call call to cap property tax increases.
The CTF presented a petition last week to minister of community development Bill Bennett asking the province to to cap property taxes at current rates, and limit annual increases to the Consumer Price Index — Statistics Canada’s official measure of the rate of inflation.
“The problem is (municipal governments) start with spending and then decide what the property tax rate is going to be. What we’re advocating for is to turn that around,” said CTF B.C. director Maureen Bader.
The petition has gathered 1,960 signatures since August, with 850 of them coming online and the remainder “the old-fashioned way,” from CTF workers going door-to-door, Bader said.
But Mayor Frank Leonard said the CTF’s stance showed its lack of understanding about how local governments operate.
Unlike the province, where budget deliberations happen behind closed doors, municipalities like Saanich hold open budget meetings where anyone can address council, Leonard said.
“We’re an open and accountable level of government and people can come and attend our budget meetings and can speak there. And the Canadian Taxpayers Federation should do that.”
But having the province impose additional rules on municipalities’ ability to set property taxes would run counter to sections of B.C.’s Community Charter that grant them independence over their areas of jurisdiction, Leonard said.
“It’s right in the front of the Community Charter. So what the Canadian Taxpayers Federation is asking the provincial government to do is to break its own law.”
http://www.bclocalnews.com/vancouver_island_south/saanichnews/news/64222592.html

It’s a modest proposal to the Canadian Taxpayers’ Federation. But Saanich’s mayor says the province would have to break its own law if it were to heed the CTF’s call call to cap property tax increases.

The CTF presented a petition last week to minister of community development Bill Bennett asking the province to to cap property taxes at current rates, and limit annual increases to the Consumer Price Index — Statistics Canada’s official measure of the rate of inflation.

“The problem is (municipal governments) start with spending and then decide what the property tax rate is going to be. What we’re advocating for is to turn that around,” said CTF B.C. director Maureen Bader.

The petition has gathered 1,960 signatures since August, with 850 of them coming online and the remainder “the old-fashioned way,” from CTF workers going door-to-door, Bader said.

But Mayor Frank Leonard said the CTF’s stance showed its lack of understanding about how local governments operate.

Unlike the province, where budget deliberations happen behind closed doors, municipalities like Saanich hold open budget meetings where anyone can address council, Leonard said.

“We’re an open and accountable level of government and people can come and attend our budget meetings and can speak there. And the Canadian Taxpayers Federation should do that.”

But having the province impose additional rules on municipalities’ ability to set property taxes would run counter to sections of B.C.’s Community Charter that grant them independence over their areas of jurisdiction, Leonard said.

“It’s right in the front of the Community Charter. So what the Canadian Taxpayers Federation is asking the provincial government to do is to break its own law.”

http://www.bclocalnews.com/vancouver_island_south/saanichnews/news/64222592.html

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Ontarians paid highest property tax in 1998

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Ontarians paid the highest property tax in the country in 1998 while the Atlantic provinces paid the lowest on average, according to the most recent figures available from Statistics Canada.

The 1999 survey released Wednesday was based on 1998 figures. It shows that annual property tax averaged $2,230 in Ontario and $2,030 in Quebec. By contrast, homeowners in Newfoundland and Labrador paid an average of $640.

Canadian homeowners paid 2.9 per cent of family income in property taxes in 1998, one-seventh of the 21.3 per cent they paid in income tax. Continue reading →

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City officials warn more pain amid halt to property tax cuts

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On the heels of an announced halt to the annual two-cent cut in Baltimore’s property tax rate, officials said Wednesday that more financial pain may be yet in store for the city.

The freeze — which keeps the city’s property tax rate highest in the region at $2.26 per $100 of assessed value —  marks the end to three straight years of two-cent annual cuts bolstered by a string of healthy budget surpluses.

But with three months remaining in the current fiscal year, top finance officials said the city’s financial health is still precarious.

“We’re waiting right now to see how we did in March,” said Finance Director Edward Gallagher.  “Then we’ll see if we need to do more.”
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Causing much of the pain, Gallagher said, was a calamitous 30 percent drop in recordation and transfer taxes — fees levied on real estate transactions.

The drop in such taxes combined with $28 million in cost overruns in police and fire department overtime have combined to put the squeeze on increased revenues from raising property tax assessments. Gallagher said the current trends may lead more cuts.

“We may have to pull in funds,” he said, referring to surpluses at city agencies that may be withdrawn to keep the city’s books balanced.

By law the city cannot run a deficit.

Despite the strains on finances, Mayor Sheila Dixon reiterated her pledge to find ways to lower the property tax rate in the future. She cited the recommendations of a blue ribbon tax panel that proposed a commuter tax and regional sales tax as a salve for the city’s fiscal dependence on property taxes.

“We’re still having discussions on it,” the mayor said.

But with many of the proposals requiring state action, Dixon said a slots parlor offered the best near-term solution.

“We need the slots money.”

Dixon instituted a hiring freeze in November and has stalled new spending.

But City Council Budget Chairman Bernard “Jack” Young said Baltimore needs to stay vigilant to continue funding youth-oriented programs.

“I don’t think we’re out of the woods yet,” he said. “We just can’t lose sight of our priorities for youth programs and summer jobs.”

http://www.examiner.com/a-1357146~City_officials_warn_more_pain_amid_halt_to_property_tax_cuts.html

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Panel proposes slashing city’s property taxes

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A steep cut in Baltimore City’s property tax rate and an array of new sources of revenue are part of a sweeping plan to be issued today by a blue ribbon tax commission.

Impaneled by Mayor Sheila Dixon last April to explore ways to cut the city’s prohibitively high property tax rate — the highest in the region — the report provides a comprehensive, long-term plan for cutting property taxes up to 30 percent by increasing taxes and fees.

“What this plan does is address the issue of how to grow the base, which is how we believe we can raise revenues in the long run, by increasing the number of residents,” said the panel’s chairman, former city Councilman Jody Landers.

“The high tax rate keeps an artificial lid on the city’s growth, and we need to change that,” Landers said.
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Among proposed sources of new revenue are a regional sales tax, a commuter tax, increasing the city’s local share of state income taxes to the maximum rate, and doubling the current 4 percent cap on property tax increases when property values rise.

“The plan is comprehensive with the long-term of goal of making the city’s property tax rate no more than 50 percent higher than surrounding jurisdictions,” Landers said. “That’s what we need to do to grow.”

Currently, Baltimore’s property tax rate is $2.288 per $100 of assessed value — 108 percent more than Baltimore County’s rate and significantly higher than all other local jurisdictions. The city has cut the property tax rate by 2 cents for the past four years, with another decrease of 2 cents planned for 2008.

The report, though, departs from the incremental approach, recommending a vast array of new revenue sources that if implemented could allow the city to slash the property tax rate by nearly 65 cents per $100 of assessed value.

The cuts could save the owner of a $100,000 home $260 to $700 annually.

Dixon spokesman Sterling Clifford said the mayor was withholding judgment of the specific proposals until the plan had been reviewed by residents.

“This will affect every single person in the city. The mayor is committed to making owning property in Baltimore more affordable, but there is no magic bullet; there are trade-offs no matter what strategy we choose.”

http://www.examiner.com/a-1135402~Panel_proposes_slashing_city_s_property_taxes.html

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