Powell River businesses won’t be getting a break on their property taxes this year.
The city council looked at reducing the amount businesses pay from 3.7 times the residential rate to just 3.
It would have meant a 17 per cent reduction in taxes for businesses and utilities, since the rate for utilities is tied to the business class.
But all other property classes, including residential, would pay 3 per cent more.
At Tuesday’s (April 1) committee of the whole meeting, Councillor George Doubt couldn’t support it and says council needs to take a good look at the future.
“You have to pay for the services you get and if you want to pay less, we’re going to have to decide to provide fewer services,” Doubt said.
Doubt said it looks attractive to help small business but not at the expense of homeowners.
“The option would result in about another $100 or basically one-third on top of the tax increase that we’re already looking at (for residential) and I’m not prepared to do that,” he said.
Taxes are expected to increase $48 on every $100,000 of assessed value on a residential home.
For a so-called average single family home assessed at $602,061, the increase would be $287. That doesn’t include the flat portion of municipal taxes and utilities, which will bring the overall increase to $322.
The city plans to collect $26.8 million in taxes this year – 9.5 per cent more than in 2024.
The tax ratio bylaw still has to come back to council to be passed later this month. Tax rates have to be adopted by May 15.
