Victoria's seeks balance and limiting pain with its budget; 6.15% residential tax increase

6.15% increase property tax increase for residents and businesses, and 37% for industry

The mayor of Victoria believes city council has struck the right balance between maintaining core services, addressing the priorities of a new council and minimizing the burden on taxpayers with its 2023 budget.

Marianne Alto said all of that has to be juggled with a ­backdrop of inflation and the rising cost of living. Alto said given the economic climate, council may have taken a more critical look at spending in order to keep the tax increase this year within the range of inflation. The tax bill for the average residential property, with an assessed value of $1.05 million, is expected to increase $172 this year, while businesses with an average assessed value of $714,000 face an extra $445 in taxes.“It was all about finding balance. You want to focus on the things that you know are important to people,” she said with a nod to development processes, safety, policing, transportation and parks.

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