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Dulux Paints on West Broadway is closing its doors at the end of October because of increasing Vancouver property taxes.

Dulux said in a news release that its property taxes at 2091 West Broadway increased 12 per cent to $209,000from $187,000 between 2017 and 2018. The store was facing another eight per cent, or $16,000 increase, for 2019 for a total bill of $225,000.

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“This makes it impossible for our business to continue to afford the space and operate profitably,” said Dave Rimmer, Dulux Paints regional director.

Paint stores have been located at the site since the early 1970s.

The store is located on West Broadway at Arbutus, which will be the last station on the Broadway Subway extension. Construction of the extension is planned to start in 2020 and finish by 2025.

The store has announced it is clearing merchandise at low prices including half price on all paint products.

Dulux Paints stores in Vancouver remain at 2630 Main and 1920 Kingsway.

kevingriffin@postmedia.com