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LETTER – Who really benefits from increased home values?

Dear editor,

Re: Comox council sets residential tax rate just below five per cent (April 14 Record)

Councilor Pat McKenna acknowledged while the Comox taxpayer isn’t going to be happy with any tax increase, he noted the one advantage homeowners within the town have is the rise in real estate prices.

“The value of your home has increased far past any marginal tax increase; the long-term assets in your home will far, far outweigh any sort of tax increase.”

This is good news if I was using my home only as an investment or if I was a Realtor standing to gain by much higher commissions.

Will council use the inflated home prices next year to again inflate my taxes?

Mel McLachlan,

Comox

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