City of Vancouver Tax Shift

BOMA BC worked with local BIAs, the Vancouver Board of Trade, the Urban Development Institute and the Canadian Federation of Independent Businesses to lobby the City of Vancouver to shift two per cent of property taxes from businesses back to residents. Council considered the recommendation and ultimately agreed to shift two per cent of the tax burden back to residents over three years, beginning with one per cent in 2019. While this is not a massive decrease, it is a positive signal that some of our Council listened to our association and understands the burden faced by our business community. This is a significant win for all businesses across the City and we hope it will help inform conversations with the provincial government on how to protect small businesses from unpredictable rises in property taxes based primarily on development potential.