As we close in on another New Year, the feds have decided you need to pay more. According to the Toronto Sun, your federal tax is about to go up slightly, for the average worker.
In Brandon, our City Council is looking at raising our taxes by as much as 20% for the average home owner. This being challenged by both the Chamber of Commerce, and the Brandon Real Estate Association. The main focus for the tax increase from $67 million to the proposed $76.7 million is mainly due to wage increases and union contracts. The reason for the Chamber and BREB challenging the increase is that a minimal (approximately 5%) is going to infrastructure while the other 95% of the increase straight to wages. Winnipeg Free Press
As the entire world is in a recession, and many parts of Canada are barely holding their own, Brandon seems to think we can afford a roughly 15% increase in our property taxes. This would add to the tax increases in the past 3 years, totalling an average of 35%-45% increase since 2008. Some letters discuss how it's the property values that are driving taxes up, while others (as in the Free Press's story) argue that Mill rates should be declining as assessed values rise.
All in all, the City of Brandon residents can count on paying more taxes, on multiple levels, in 2012.
Happy New Year Everyone!