Williams Lake #1 for property tax mill rates?

Earlier this month, the City of Williams Lake announced its' intention to bring in a new industrial tax revitalization exemption bylaw.  See my blog post on that here

However, last Thursday, Tom Hoffman, the Manager of Tolko - Cariboo Woodlands, raised a concern at WL Council's 2011 Preliminary Budget meeting that the industrial tax revitalization program will not work when business/industrial mill rates in the City are too high to attract new investment to Williams Lake

Last night - I had the opportunity to discuss this issue in more detail with Mr. Hoffman and in that conversation, he educated me as to what will happen if changes to the mill rates for industrial and business property tax classes are not forthcoming.  He informs me that if WL Council passes the budget, as proposed, with the proposed mill rates for all 9 Property Taxes classes, the difference between the mill rates for residential and industrial will be 16 times which will make Williams Lake #1 for the highest mill rate in British Columbia for industry and that is certainly not a title I and I would wager many in this community do not desire.  Mr. Hoffman also advises me that even fast-food businesses are not looking at Williams Lake to set up shop, as long as the mill rates for business remain at their current level

Many other communities in BC (Quesnel, Kamloops, Castlegar, etc) have begun the painful decision to "rebalance" the mill rates in order to keep industry at home (ie - lower industry mill rates and transfer that to residential and other property tax classes).  Mr. Hoffman has also discussed this issue already with WL Council and based on the 2011 Budget - it appears WL Council has not heeded his advice

The question becomes - is it better to keep industry here and have residents pay a little more over time or have industry pack up and leave and have residents pay a lot in a short time?

If WL Council does not heed Mr. Hoffman's advice then I firmly believe that Council's new Industry Tax Revitalization Program will be nothing more than a flop