Powell River has one of the highest long-term debts in all of BC, ranking 130 out of 153 municipalities in total long-term debt due to never-ending spending increases at city hall [“Staff member outlines City of Powell River's debt,” February 6].
We have the highest municipal property tax rate in all of BC compared to house prices. We also have unfinished and increasing costs for a sewage plant, old garbage dump, et cetera, in the hundreds of millions of dollars. The sewage plant is over the initial estimate and growing. The former garbage dump is already 50 per cent over budget and only two-thirds complete.
Catalyst Paper Tis’kwat, the largest source of property tax income, is likely going to default on paying the city over $2 million-plus per year in the near future.
Property taxes have been increasing at double the rate of inflation for many years. Reserves are shockingly low, infrastructure like roads require many upgrades, per capita incomes are 20 per cent below provincial averages, and spending at city hall keeps increasing, hiring new employees over the past couple years with never-ending vanity projects in the pipeline.
Meanwhile locals in Powell River need affordable housing and most are looking for rentals around $1,000 per month. How is this possible if property taxes alone are around $500 per month?
In five to 10 years, with current never-ending spending increases at city hall, the average household in Powell River will be spending $1,000 a month on property taxes. How is this going to affect affordable housing?
Powell River’s local government is on the path to bankruptcy.
Local government is taxing locals out of their houses and making affordable rentals impossible.
Derek Hildenbrand,
Marine Avenue
