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This year, industrial warehouses could experience tax spikes within the non-residential property category, as their value is expected to increase by 5% – and the value of other types of buildings evaporates.
Coun. Ward Sutherland said this problem is not going away and the city needs help from the provincial government to fix it. In February, council passed a motion calling on the province to explore reforms to the property tax system.
“It’s going to be very difficult and we are in exactly the same position as last year with different buildings,” he said.
“This is an evaluation system that is broken, that has no flexibility, that as a board essentially handcuffs us to make the right kind of adjustment to deal with these imbalances.
Council asked city staff to prepare budget scenarios that would result in a freeze on homeowner taxes in 2021. The budget adjustment process takes place in November.