Thursday April 16, 2020 ~ COLWOOD
Mary Brooke, editor ~ West Shore Voice News
The City of Colwood has announced relief for Colwood taxpayers in light of the economic impact of the COVID-19 pandemic.
Colwood Council is planning a 0% increase in municipal property tax for 2020. The City is also bringing in a five-year phased approach to align Colwood’s business tax rates with the regional average, starting in 2020.
Recognizing the financial stress residents and businesses are under due to the State of Emergency in BC and self-isolation orders of the Provincial Health Officer, Colwood Council decided unanimously to support the community through this crisis while at the same time positioning the City for a strong economic recovery.
Before the COVID-19 pandemic (which set in mid-March), Colwood’s five-year financial plan proposed a 3.5% tax increase in 2020 to fund service expansions, capital projects and sustainable infrastructure replacement. Several lengthy budget meetings went over many a detail.
Now, to achieve a zero increase in 2020, Council has supported shifting some of the service expansions in its five-year financial plan forward several months into 2021.
The revised financial plan includes expanding Colwood’s RCMP strength in 2021.
“Shifting some of the service expansions forward into 2021 allows us to give Colwood taxpayers the relief they need right now,” said Mayor Rob Martin.
“West Shore RCMP does a phenomenal job. Expanding Colwood’s RCMP service in 2021 will keep Colwood well ahead of the curve in accelerating police strength to align with our community’s expected population growth over the next 10 to 20 years.”
Positioning Colwood businesses for strong economic recovery
In a release April 15, the City of Colwood says that “bringing Colwood’s business tax rate into a more competitive position in the region will boost the ability of local businesses to rebound quickly while creating a competitive economic environment to attract new businesses to commercial spaces at Colwood Corners, in Royal Bay and in the Allandale District, among others”.
The City is also reaching out to business owners directly through surveys and roundtable meetings to better understand the impact COVID-19 is having on their business and how the City can best help position them for successful recovery.
Keeping Colwood residential taxes among the lowest in the region
“Increasing the financial burden residents face at this time is not an option for Colwood Council,” said Mayor Rob Martin.
The average Colwood homeowner will not see an increase over their 2019 municipal taxes unless a home’s value increased more than the average in the past year, the City stated in their release.
Colwood residential taxes are third lowest in the Capital Region, with a representative house paying $3,751 in 2019, as shown in comparative data from the Ministry of Municipal Affairs and Housing.
Colwood Council is scheduled to review the Five Year Financial Plan Bylaw at their regular council meeting as scheduled for Monday April 27, 2020.