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When city residents open their municipal tax bills, they will likely find what most might consider a modest increase after council approved the rates and ratios associated with the City of Timmins’ 2021 budget Tuesday night.
The report presented by Treasurer and Director of Finance Natalie Moore indicated the total levy for 2021 is $84,497,793, up 0.47 per cent from 2020’s $84,099,572 figure.
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That number includes the municipal levy $74,365,735, up 1.33 per cent from 2020 ($73,386,077) and the education levy $10,132,058, down 5.42 per cent from 2020 ($10,713,511).
Author of the article: Scott Nixon
Publishing date: May 14, 2021 • 1 hour ago • 2 minute read •
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LUCAN BIDDULPH – Councillors learned at their May 4 meeting about property values province-wide, as well as those in their own backyard.
Brenda Slater, zone 1 account manager for the Municipal Property Assessment Corporation (MPAC), spoke at last week’s Lucan Biddulph council meeting and informed councillors that MPAC property assessments continue to be based on Jan. 1, 2016 market values, as province-wide property assessments have been put on hold.
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City council has adopted the recommendation of administration when it comes to the Tax Policy Report.
Director of Revenue for the city, Kathleen Cannon and her team made the push ahead of Monday’s council meeting to go with the first choice, which she said is more in line with the long term tax strategy ratified by council in 2019.
The strategy looked at reducing tax ratios for multi-residential, commercial and large industrial classes, while enhancing long term financial stability in effort to achieve greater fairness and relative competitiveness overall.
Cannon noted for 2021, the Municipal Property Assessment Corporation, (MPAC) re-assessment was postponed which means if your property is worth $200,000 in 2021 it will be worth the same amount in 2022.
The levy for the Thunder Bay District Social Services Administration Board is $167,800 lower than expected
Council reduced the hit to the stabilization reserve fund by $1,534,200 to fund the $8.7 million COVID impact (that includes recognizing $1.24 million in 2021 Safe Restart funding)
Insurance costs are $234,400 less than estimated
$138,400 increase for Canada Pension Plan/Employment Insurance costs
$149,400 in reduced debenture interest, MPAC levy, Community Youth & Culture Funding Program ongoing
$30,000 removed for Victoriaville budget for duct cleaning
$15,000 addition to each organization: Thunder Bay and Area Food Strategy, Poverty Reduction Strategy and Age Friendly Thunder Bay
$30,000 reduction in Victoria Avenue BIA contribution
$67,900 removal of proposed transit fee increases
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Ontario’s recently announced extended freeze on property value reassessments is welcome news to Sarnia’s mayor.
“It’s certainly welcome because this is not the time to be increasing property taxes on the value of the businesses and the homes,” Mike Bradley said.
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The provincial budget announced in March included a provision to again postpone the Municipal Property Assessment Corporation’s (MPAC) property assessment update because of the pandemic.
Normally conducted every four years, the last update was in 2016. The assessment was also delayed in 2020.