Small business in one region of Canada are outraged over the ever increasing rate of property taxes.
Small business owners in Revelstoke have recently seen their taxes increase by as much as 50 percent in just one year, the Revelstoke Times Review reports. One business owner, Neil Jones, who owns Trans Canada Fitness, was astounded at the rate that his taxes had increased.
"I have no problem paying my share. I’m a big supporter of this community and a big supporter of the city, but what's fair?" Jones said in an interview with the news source.
The reason for the jump has to do with the increase in value that many business properties have seen in recent years. The news source reports that commercial property assessments rose by 19 percent in the last year. The increase in property value, coupled with the 2.5 percent increase in taxes, has forced businesses to pay the government more money than ever before.
The Canadian Federation of Independent Business recently came out against high taxes in one Canadian region. The CFIB recently released a study showing that 247 out of 350 businesses in Calgary paid more than residents when it came to property taxes, the Calgary Herald Reports.
