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Fair Tax Coalition continues to save businesses money

The Vancouver Fair Tax Coalition has been working hard on behalf of business. The coalition's campaign influenced the NPA majority on city council to vote in another tax
shift in 2008. Beginning this year, a property tax policy has been set to shift one percentage point of the tax share to the residential class in each of the next five years until business pays 48 per cent and residents pay 52 per cent. But this new tax policy is open for debate every year by council.

What are the 2008 tax savings for Vancouver businesses?

The impact of 1% tax shift in 2008* is the following;

• Businesses will collectively save $5 million
• $248 property tax reduction for a business property valued at $942,000
• $187 property tax reduction for a business property valued at $700,000 Additional savings to business taxpayers due to the 2007 civic strike and other budget efficiencies*
• $88 property tax reduction for a business property valued at $942,000
• $68 property tax reduction for a business property valued at $700,000
• Source: City of Vancouver

What's ahead for the Fair Tax Coalition

Moving into the November 2008 election campaign, the Coalition will ensure all candidates understand the need for fair business taxes and a vibrant business climate to attract and retain businesses, both large and small. For more information on the Fair Tax Coalition or to learn more about property taxes, visit fairtaxcoalition.com. Thank you for your continued support.