These high tax increases can't just keep going, this longtime resident says.
I’ve been a homeowner in Burnaby for over 38 years. In those 38 years, I’ve seen our house taxes go up, no different than most cities. In the coming two years, Burnaby residents will see a total tax property increase of over 10 per cent.
Council has already indicated they plan to spend more than $500 million on replacing pools and community centres. Burnaby also has net financial assets of over $1.9 billion and, in 2021, a surplus of over $430 million. Everywhere we look in Burnaby we have new construction, highrises where developers are paying tens of millions in developer contributions. Not only is the city collecting millions of dollars in developer contributions but will also be collecting many more millions in property taxes.
All that said, I am surprised to see such a big tax increase for Burnaby homeowners. In Burnaby , we have close to 60,000 residents that are over the age of 60, many on fixed income. In addition to those numbers, we will have thousands of homeowners with mortgages who will be stretched even thinner because of higher mortgage payments and increases in property taxes.
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