2023 Property Tax Watch
Saturday, June 17, 2023 at 9:24AM In the next few weeks, you will be paying your 2023 property taxes.
We have had 2 years of relatively stable property taxes and are now facing significant tax increases for 2023 once you consider the assessed value of your home. You are welcome to plug in your own numbers to my Spreadsheet and see what impact 2023 taxes are for you. It may surprise you.
CVRD states, "...the costs associated with the new regional recreation funding model approved by referendum, as well as the rising cost of maintaining our current service levels, have resulted in a 11.49% average increase to taxation by the CVRD." (Message from the Chair, 2023 CVRD insert with your tax notice). Island Trust advertises a 2.06% increase. I'm looking at a 32% increase after including all levels of government.
The largest tax increases are for Cowichan Valley Administration and Thetis Island Improvement District.
The largest tax components for Cowichan Valley Administration include the Vancouver Island Regional Library, Community Parks and Trail (excluding Island Trust properties), CVRD Leisure facilities, and the Solid Waste Complex.
I expect higher future taxes from CVRD who is using a 10% inflation assumption for their 2024 Budget and from higher Parcel taxes.
I am wondering if there is any support to lobby for offsetting grants to get back some of our increased taxes for services that we don't really use?
If you want the Spreadsheet or are concerned about higher taxes, contact me at paulduncanvictoria@shaw.ca
Paul Duncan, member, TIRRA