Winnipeg Free Press, September 2, 2022
Earlier this year while cleaning out some old files I found my property tax assessment from 1993. I had just received my 2022 assessment, and my economist’s “spidy” sense tingled. This mental itch kicks in when we economists compare costs and prices over time – we automatically adjust for inflation.
My 2022 property tax bill seemed too low. Once I licked the tip of my pencil and performed complex calculations, I was right! My property tax has risen by 46% over this thirty-year period while general inflation has increased by 67%. Time to do some investigation.