Chris Salmeron tries to make his one-bedroom apartment in Halifax more energy efficient, but on cold, damp days, he feels the discomfort from the weather and the dread of his next power bill. “These rate increases are going to hurt and there’s some people that can take it on, but I’m worried about those who can’t,” said Salmeron, who is a member of ACORN Nova Scotia, an advocacy group and union of low-and-moderate income earners. A rising power bill isn’t the only concern for Salmeron. Halifax Water will have its rate go up by 18 per cent by April. “Grocery prices are spiking, gas is getting more expensive and rent is certainly more expensive here to the point where I feel like we are competing with Toronto and Vancouver,” said Salmeron. Ursula Eckoldt, who owns Urchin Property Management Inc. and rents more than 500 apartments, says margins are tight for those in the housing business. “You operate all year long and hope you can break even,” says Eckoldt. Eckoldt is also bracing for a proposed 7.5 per cent tax increase that Halifax council is expected to pass next week. Once approved, the 7.5 per cent increase to the residential and commercial property tax bill will see the average residential tax bill go up by $284 based on the average single-family home assessment value of $357,500. The increases to taxes and utility rates all eat away at revenue, says Eckoldt, and will eventually lead to increased rents. “For us, we only have our tenants, we have rents, that’s our only revenue,” said Eckoldt. The province’s five per cent rent-cap policy can keep rents down in the short-term, said Eckoldt, but she believes eventually all rents will go up. The Canadian Centre for Policy Alternatives says utility rate increases and increased taxes hurt most those who are already feeling the financial squeeze and there’s concern about growing debt. Recent data from Ipsos polling shows two in five in Atlantic Canadians say they need help getting out of debt. “Credit cards have significantly high interest rates,“ said Saulnier. “They are so high that people cannot afford to carry a balance but sometimes they have to and you get in a deep hole very quickly.” For more Nova Scotia news, visit our dedicated provincial page
