Revelstoke Chamber of Commerce protests business tax
Revelstoke’s business lobby has released a statement criticizing the city council’s approval of the proposed 2016–2020 budget, which they say gives commercial owners no relief in their property taxes.
The latest City of Revelstoke budget passed its first three readings at a special meeting on Feb. 29 but the Revelstoke Chamber of Commerce is unhappy with its taxation on local businesses.
The chamber released a statement on Wednesday, Mar 2 and called the city’s decision to not adjust commercial property tax rates as disappointing. The chamber wants the rates to be fairer in comparison to residential rates and stated that the business community currently contributes 55 per cent of the city’s revenue while representing 22 per cent of the property assessment value.
The Chamber’s graph of current property tax contributions. Photo: From council documents.
The chamber’s statement notes an objective in the 2016-2020 Financial Plan is to bring the tax ratio for commercial and residential closer to 2:1.
Chamber board president Randy Driediger said reducing business taxes would help the community thrive. “Adopting a fair contribution system, reduced spending and attraction of new construction would contribute to a more productive economy where businesses can thrive and increase employment and service, bringing value to the community at large.”
Despite concerns from the chamber on the short consultation period of the draft budget, council during a special budget meeting on Monday, Feb. 29, put the budget to first, second and third reading.
The budget calls for a 2% increase in residential taxes, and a 1% increase in class 6 commercial taxes.
The Chamber’s presentation at the meeting recommended the following:
- Start the operating budget process August 1st of each year;
- Create a 10 year plan for infrastructure and asset management;
- Provide clear, consistent financial data and statements;
- Independent core review to reduce spending and increase efficiency;
- Improve the fairness of the business tax burdens.
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