As municipal councils across the region finalize tax rates for business properties, The Chamber wants to hear from any members facing unfair increases.

“Businesses need to plan for expenses, and they expect to be treated fairly. After all, the long-term health of our communities is directly related to the health of our small businesses,” Chamber CEO Bruce Williams told the Times Colonist. “The Chamber is reaching out to our members to see how (tax increases) affect them ­individually, and we’ll take that information forward to ­candidates in the fall municipal election.”

The Chamber recognizes that municipalities must juggle a number of variables when setting rates. Ultimately, each municipality determines how much money they need to deliver services to their citizens and then set rates to raise the revenue to cover most of those costs. Whether an individual property experiences an increase in their tax bill typically depends on whether the property had a higher-than-average increase in value. However, municipalities also need to be fair when allocating costs to commercial properties.

“The business community understands that taxes are a tool used by local governments to provide services, but we’re always watchful of councils who try to shift costs to business and industry and away from residents for political reasons,” Williams said, noting that now is not the time for municipalities to be increasing costs for any taxpayers. “Many businesses are still facing challenges, so any tax increase will weigh on them at a time when we need our economy to take flight.”

The Canada Mortgage and Housing Corporation is forecasting Greater Victoria housing starts to “decline in 2022, strapped by capacity constraints, before moderating in 2024.”

CMHC’s Senior Analyst of Market Insights, Pershing Sun, said 2022 will be a moderating year in Greater Victoria’s housing market.

“Rising borrowing cost, affordability erosion, and constraints in construction will anchor sales and slow down price growth,” Sun said in a recent report. “Improved job market and migration inflow will drive rental demand over the next few years.”
The CMHC report said the market is expected to slow down after breaking records last year, with prices rising slower than the “frenzied pace in 2021.”

The Chamber has been calling on all levels of government to address obstacles hindering the construction of more homes. With builders operating at their slowest pace in the past 10 years, the industry needs more workers, improved supply chains and streamlined regulations to meet demand.

Investing in child care allows more working parents to stay in the labour force and helps our region achieve its economic potential. The addition of 395 new licensed child care spaces in Greater Victoria, announced April 19, will help parents continue careers or pursue employment while knowing their children are being looked after.
 
“The Chamber has led the way in encouraging investment in child care as a way to boost our economy and help our region remain an attractive destination for working families,” Chamber CEO Bruce Williams said. “We’ll continue to advocate for good policies that build good business and great community for all.”

The City of Victoria is the first BC municipality to approve fast tracking affordable housing — and the District of Saanich could soon follow suit.
 
Last week, Victoria council unanimously approved a motion to speed up the development process for housing proposed by non-profit, government or co-op organizations. The proposals need to fit with the Official Community Plan but would not be required to go through rezoning or public hearings.
 
“The change we made tonight will get more affordable homes built more quickly for families, workers and people who need it the most,” Victoria Mayor Lisa Helps said in a media release.
 
Victoria’s effort has inspired a Saanich councillor to try to have the same motion adopted in her municipality.
 
“I think if Victoria has a process which Saanich council can approve, and I hope they do that, that will make things more streamlined as agencies move between the municipalities, they’re not going to have to figure out the differences just because of the boundaries,” Saanich Coun. Susan Brice told CHEK News.
 
The Chamber applauds Victoria for taking action to increase housing supply that is affordable for workers. This is one of the keys to helping employers find and keep staff. The Chamber also encourages Saanich Council to adopt the motion when it comes to them. It’s more efficient to have the same rules within our region as the need for more housing affects everyone in Greater Victoria.