Comment 120272

By Suburbanite (anonymous) | Posted October 13, 2016 at 19:54:26

I think we might be overlapping 2 different things. I agree that property taxes, after the build, are disproportionate. The whole fair market value assessment isn't fair and the fact that re-sales of properties trigger higher assessments only compounds the issue.

However, it is more the Development Charges that I'm starting to question. Specifically the exemptions provided currently. The developer is provided with an exemption (75%) yet we still need those funds for reserves to accommodate projects related to the growth. Therefore, the 75% is currently coming out of our Future Fund Dividends on an annual basis and put into DC Reserves. ($3 million at last look)

With the investment of the $1B and the renaissance of our core, perhaps we should be reviewing using our dividends in this fashion. Maybe towards enhanced transit to feed the LRT?

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