OWNERS of single-family homes and large businesses will take the brunt of the City of North Vancouver's overall two per cent tax hike.
The city has a four-year-old policy of gradually shifting some of the tax burden from businesses to residents, with the goal of reaching a business tax rate similar to the regional average.
Finance director Isabel Gordon told council Monday that the current policy isn't working. The value of residential land has grown much more than commercial lots, so while the city has shifted the rates, the dollars collected don't reflect the policy goal.
A better way to look at municipal taxation, she said, is to compare the overall share of the city budget that each sector pays for, with a target of 35 per cent for business.
Under Gordon's plan, a median homeowner will see another $98 added to their tax bill, $15 more than an across-the-board hike. Large businesses are on the hook for another $1,815, about half of what they see under an across-the-board hike.
Small business will see a $46 jump in their tax bills, medium-sized firms a $91 one. Both increases are half of an across-the-board hike. Multi-unit residential owners will pay one dollar more than last year, eight dollars more than an overall increase would call for.
Mayor Darrell Mussatto and Coun. Craig Keating both reiterated their opposition to the budget, arguing it doesn't provide for redeveloping Harry Jerome recreation centre and doesn't provide long-term money for RCMP costs.
The budget was approved by a 5-2 vote.
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