I've been trying to work through some figures today from the past three years city development reports and the past three years city budget reports.
I am trying to figure out whether the growth in the number of dwellings in Kamloops costs existing residents money. Maybe, instead, it save them money? Or maybe this a revenue neutral situation.
This is a bit of complicated task, and I likely have to look at other data and factors.
I know, for example, that year to year fluctuations in property tax / utility rate increases is not soley a result of new housing development. City Hall may, for example, also be increasing or decreasing services, or may see cost fluctuations for currently provided services.
So, in the next days, I will be noodling with this more, and posting thoughts and findings here.
Here is some raw data that readers might find interesting:
- When the city build roads because of new development, it charges developers for 90% cost. That means the existing taxpayers pay 10% of the cost. The justification is that existing residents should also benefit from that new road. On the other hand, if the road was not built, would existing residents miss it?
- Here is a chart showing new lots (with no houses) created, new housing starts, and tax increase rates for the past three years. I did not find/ have data for some of the columns...
Lots Starts New taxation Tax Increase
2006 688 780
2007 518 612 2 991 000 1.49%
2008 588 574 2 000 000 1.97%
2009 1 388 000 1.94%
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