In this February 2020, file photo, Cornwall CFO Tracey Bailey listens to city council during a budget meeting. The draft 2021 municipal budget has a tax increase of 2.9%. (Newswatch Group/Bill Kingston, File)
CORNWALL – Cornwall homeowners will likely have to pay a bit more in taxes this year as the draft 2021 municipal budget has a proposed tax increase of 2.9 per cent.
The 2.9 per cent increase would be an extra $74.64 this year on a home assessed at $173,860. Your increase would be slightly more or less depending on the value of your home.
Since the Municipal Property Assessment Corporation (MPAC) did not conduct new property assessments for 2021-2024 due to the pandemic, the tax increase will be calculated on the fully phased-in current values.
Veterans group appeals to city council for tax exemption
Initially rejected by city staff, the Polish Combatants Association is seeking a property tax exemption for a vacant Cumberland Street lot
Jan 2, 2021 2:02 PM By: Ian Kaufman
Updated
Members of the Polish Combatants Association lay a wreath to commemorate the Second World War Battle of Monte Cassino in 2017. (File photo)
THUNDER BAY – A local veterans’ group is appealing to Thunder Bay’s city council to grant tax exempt status to a vacant property that’s currently costing it thousands of dollars a year.
Members of the Polish Combatants’ Association in Canada, Branch 1, made a deputation to council on Dec. 21 seeking the exemption, which would require a bylaw amendment, after city staff initially denied their request.
2020 not a good year for assessment growth in the City of Thunder Bay
Tax revenue from new assessment is less than half the five-year average.
Dec 22, 2020 3:20 PM By: Gary Rinne
But an examination of recent history shows 2020 wasn t so good for the city after all.
MPAC is the agency that assesses and classifies all properties in Ontario, producing data that municipalities take into account in calculating property tax rates each year.
In a report this month, it said Thunder Bay picked up just under $58 million in new assessment this year.
That was second in Northern Ontario only to Greater Sudbury, but the nickle city finished the year way ahead of Thunder Bay, with new assessment totalling about $106 million.
Those low interest rates means they now have the money to get those extra luxuries.
Those who don t want to move or can t afford to do so, are considering other options like upgrading their current home or adding an extension. The Municipal Property Assessment Corporation (MPAC), an organization that assesses and classifies the value of all properties in Ontario found that this year more people were renovating their homes.
Renovations up across Ontario With people spending more time at home. we saw a 28% increase in the number of renovation permits this year as people invested in making improvements to their homes, said Nicole McNeill, MPAC s president and chief administrative officer.