Lowering New Westminster industrial property tax a good decision
Re: New Westminster to slash industrial property taxes (NewsLeader, Jan. 23)
New Westminster city council made a good decision lowering the tax rate for industrial properties.
Starting to level the field for business investment was overdue. This is a step forward to having more residents being able to work near where they live. More is still to be done on competitive taxation, to put to rest New West's reputation of having higher taxes than nearby cities.
An increase in the number of residential properties without an increase in businesses eventually puts a city's finances out of whack. It has been shown that increasing the numbers of residents brings a net increase to city costs, while adding more businesses brings a net increase to city revenues.
Keep up the momentum.