So I read that the new equalization formula somehow considers property values in its calculation of fiscal calculations. This is concerning to be since BC is well known for outrageous property values. If these values are now considered a part of government's fiscal capacity, what happens in the event of an economic downturn. What happens when our property values stay high, but if our economy is depressed, we still may not qualify for assistance from the federal despite decreased revenues overall?
maybe someone could explain this to be. Im not good with numbers, thats why Im a politics grad student!
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