Re: Growth of Sidney’s tax base helping keep rate low
In the February 24 edition of the Peninsula News Review, the article reported on the 2017 Municipal taxes being increased by 0.66 per cent, a reduction from the anticipated 1.51 per cent. Kudos to the Town of Sidney financial staff and council on their success in keeping the 2017 tax rate increase low.
In the same article, the forecast for the next two years is about four or five times greater (2.43-2.93). This is a significant increase given the other elements (CRD, School District, etc.) of the typical residential, and business, tax bill. Can we trust these same people will have success in reducing these forecast rates by a similar 50 per cent?
Mayor Price has noted future tax increases will be offset by continued growth in the tax base, specifically naming the Sidney Gateway project. However, the claimed $300,000 commercial tax dollars from Gateway does not define if this is gross or net tax income. What are the costs of the Town servicing Gateway? Certainly, those paying that tax are expecting services in return. So, what will be the net commercial tax income from Gateway? Will it indeed be a surplus or a loss?
Steve Duck, Sidney