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BC Property Tax-What is Going on?

Property taxes seem to increase every year, which is why CFIB has been advocating for solutions to property taxes at a provincial and municipal level for over a decade. This year is unique.

To help business owners in 2020 with Covid costs, the provincial government reduced the school tax on commercial properties by 50%. However, despite our request for this to be extended into 2021, the province chose not to continue offering this benefit.

For many business owners, it appears that their taxes have gone up quite significantly. Considering we are far from full economic recovery this is certainly a shock. Comparing this year’s tax notice with 2019, will give you a truer sense of your property tax increase; not that it is much comfort.

Our battle is far from over:

In a recent survey, 92% of you told us that you would like to see the provincial and municipal governments work together to reduce property taxes. When we met with the finance minister earlier this spring, we shared those results and expressed that property tax increases were a concern pre-pandemic. Now they are a crisis!

CFIB will be ramping up our advocacy this year to make sure both levels of government focus on this important issue. In 2022, municipal elections will be in full swing. We want to ensure in the next year, that every candidate who is running knows how important fixing ever increasing property taxes are to small business owners like you.

Stay tuned, we will keep you informed about our advocacy and what you can do to help.

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Topics in this Article: Taxes

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