Tax Increases in 2010

Based on the approved budget, the municipal services portion of the property tax rate will increase by 2.89% for residential and 3.19% for non-residential properties.  

Factored into the rate increases is the annual adjustment to the Servus Credit Union Place Capital Tax Levy.  For 2010, the levy will drop from $35.16 to $34.74 per $100,000 of residential and non-residential assessment. 

For residents living in a single detached home assessed at $400,000, the increases will result in an additional $6.55 per month in taxes.  For business owners, with a property valued at $900,000, the additional taxes will be $26.18 per month.

While the overall municipal tax requirement for the year will be $70.5 million, virtually all of the 2010 tax increase will focus on maintaining services at current levels.