No real estate for taxpayers

Reason why taxes went up 8.5 per cent this year now clearer

Dear editor,

The Comox Valley Regional District bought some land in 2010 for a homeless shelter and paid $470,000 for it?

Two years later the CVRD transferred the land to the City, along with $100,000 in cash.

The City then sells the land for $355,000, buys a lot on Braidwood for $264,500 and the Mayor declares that “taxpayers should not be in the business of building and maintaining shelters or subsidized housing?” Given the evidence taxpayers should not have anything to do with real estate either!

Turning $570,000 of real estate and cash into less than half that amount in a couple of years must take some real skill. Where did the money go?

I’ m starting to understand why my taxes went up 8.5 per cent this year.

Francois Lepine

Courtenay