Small business owners in Vancouver, and those who have been mourning the loss of beloved bakeries, bars and dry cleaners unable to keep up with rising property tax bills, have been hoping for some relief.
But now, council will hear a staff recommendation against making the shift, in part because of the greater burden some homeowners face from the province’s tax on more expensive homes that are over $3 million in value. The report to council also concludes that a “blanket two per cent shift from commercial to residential does not effectively target the 21 per cent of commercial properties impacted by assessment volatility arising from development potential.”
City “staff have a built-in bias against business,” said Sullivan, echoing others who have noted that people elect government officials, whereas businesses do not.