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Residential property owners in Vancouver will pay a larger share of taxes this year after a divisive vote by city council Tuesday shifted $3.6 million in property taxes from businesses to homeowners.
Despite staff’s intentions to use the tax shift to aid businesses hurting from the pandemic, some councillors panned the idea as an overly blunt tool that would disproportionately help the city’s biggest, most-cushioned companies at the expense of its residents. But their arguments failed to sway the decision, which will see those who own residential property in Vancouver pay a small handful of extra dollars in taxes in 2021.