Victoria property taxes could increase by 9% this year
CTV
Property taxes in Victoria could rise sharply this year as the city grapples with inflation.
Property taxes in Victoria could rise sharply this year as the city grapples with inflation.
Property taxes in the city could go up by nearly nine per cent this year.
City staff have recommended an 8.99 per cent increase in taxes to maintain the city's level of services.
The recommended increase is driven largely by inflation, salaries and supply chain issues.
Staff estimate that the higher taxes would translate to an additional $251 per year for homeowners, and more than $600 per year for a typical business in the city.
The proposed increase has not yet been discussed by city council. Councillors will debate the recommended increase Thursday.
One city councillor told CTV News they think the increase is too high.
