According to the BC Assessment Authority, Oak Bay’s 2018 average assessment was $1,149,000; for 2019 it is $1,222,000, an increase of 6.35 per cent.
From a taxation viewpoint, the combined General Municipal and Debt Levy applied to residential properties for 2018 was $2.4748 For 2019 it is $2.5441. The latter is a further increase of 2.8 per cent.
This is an average tax increase for Oak Bay’s General Municipal and Debt Levy of 9.15 per cent. This does not include other levies such as the Regional Hospital District, the Regional District or schools.
A 9.15 per cent increase is a record increase yet we are told it is not enough. Further, the five year financial plan projects that property taxes will increase 20 per cent by 2023.
So, it is fair to ask:
Why there is such an increase and why it is not enough? What has council done to rein in discretionary expenditures? What has council done to audit Oak Bay’s operational functions to ensure they are required and operating efficiently? What is council planning to do about development fees? What charges will council apply to secondary suites by way of licence/registration fees?
Council’s failure to collect substantial fees and trim expenditures while households incur higher taxes is unconscionable. Council, get our house in order.
Rick Lee
Oak Bay