From the Metro:
From the flurry of complaints over snowbound streets and isolated communities after recent winter storms, a new potential approach for funding improved snow clearing and removal has emerged.
Ward 8 Ald. John Mar said he believes the insurance industry has a vested interest in the safety and security of its clientele, and he’s banking on its support for a plan to see insurers help foot the bill for future snow clearing.
“Ok, we need to figure out how to get someone to clear the snow, since we don’t want to. Can we get the auto industry to pay for it?”
“No, they like it when cars get wrecked, ’cause they get to sell the people new ones. If they don’t die.”
“Right. How about…umm…those guys that make Cheetos?”
“Why would they pay for clearing our snow?”
“I don’t know. They probably wouldn’t. Ok…um…how about the insurance industry.”
“Yeah!! They have a ‘vest interest’! They’d totally pony up!”
“Wicked. Let’s get the insurance industry to pay to clear the snow from OUR city’s roads. Awesome.”
Because abdicating one’s own responsibility for something never leads to an even bigger problems. Ever.
Was reading this commentary from Ricky Leong at the Calgary Sun. In it, he writes:
According to the proposed adjustments to city spending in 2010-2011, Calgarians should expect a property tax hike of 4.8% next year — about a percentage point less than previously forecast.
While this is a reasonably accurate statement, it misses the implication. In fact, property taxes aren’t expected to hike by 4.8%, the municipal budget is. A budget increase of 4.8% does not directly translate into a 4.8% increase in yours and my property taxes.
This is because the assessment of property varies from year-to-year and is based upon revenue neutral principles. So, if the average property increased in value by 5%, and your property increased in value by 5%, and there was no increase in the budget, then your taxes will not increase. Likewise, if the average property increased in value by 5%, and your property increased in value by 5%, and the City increases the budget by 5%, then your property tax will go up by 5%.
However, not all property goes up (or down) by the same amount. For 2010 assessments, some properties will have increased, and some will have decreased. Thus, some will see their property taxes go up, and some down, depending upon how the value of their property changed in comparison to the mean change.
I guarantee you this, there will be a significant number of residential and business property owners who will see their property tax increase not by 4.8%, but by 20%. Yep…20%. Guaranteed.
