Abbotsford News Friday, March 20, 2015
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Chamber aims to reduce taxes for business and industry The ultimate goal of the Abbotsford Chamber of Commerce is to ensure that Abbotsford is the most business friendly and competitive municipality in the country, without negatively impacting the sustainability or livability of the city.
the continued ability “to encourage economic stimulus, create additional permanent employment opportunities and expand the industrial/business tax base.”
In an effort to achieve this goal, At a recent council meeting, the Chamber encourages Mayor Chamber president Mike Welte Braun and city council to “look at told city council that the Chamber the expansion of permissive tax is pleased with the trend to reduce exemption programs,” something that Welte said has worked well to property tax ratios in every class. increase the competitiveness of the “Our hope is that mayor and council community. share our vision and prioritize Abbotsford’s business community The Chamber has asked that when setting the 2015 tax rates,” the newly created economic said Welte on the five-year financial development department has plan bylaw. the autonomy and is afforded “We believe that continuing the opportunity to partner with (hopefully through the downward trend will create industry additional investment, new jobs an economic development and most importantly, a further tax corporation model) to help with decrease for all classes.” business retention and expansion At the council meeting, the functions. If successful, Welte said it Chamber observed that businesses should help with further reductions and industries which grow the to everyone’s tax bill. economy and create jobs for the citizens of Abbotsford are paying “In addition to tax rates, the a highly disproportionate amount expansion of permissive tax of tax. The business community still exception programs, there are also pays 2.45 times the residential rate other effective and useful tools to per $1,000 of assessed value. encourage investment,” said Welte. “The reduction of the ratio from 2.9 in 2009 to 2.45 in 2014 has been certainly welcomed by the business community and the Chamber,” said Welte.
“In the coming weeks, the city will set tax rates for the coming year; reducing business mill rates for 2015 is a great opportunity for Mayor Braun and council to The Chamber believes the key to send a very strong message that success for the city of Abbotsford is Abbotsford is open for business.”
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