Bruce County warden pleased with substantial assessment growth

Bruce County warden Paul Eagleson is pleased that substantial assessment growth in the county means an affordable tax rate in this year's budget.

“With the assessment growth in Bruce County, we have been able to approve a budget that is affordable and maintains the tax rates," he said. "In fact, taxpayers who had no assessment adjustment will experience a decrease.”

The county's corporate services committee has received the 2018 property assessment analysis and proposed tax rates. Back in November, 2017, the committee recommended that the 2018 budget be adopted with a 3.27-per-cent increase to the levy in the total amount of $44,841,299, an additional $1,420,008.

The 2018 taxable assessment in the county, increased 5.51 per cent over 2017, and includes just over one-per-cent estimated growth. The balance of the increase is a result of the second year of the phased-in increases, stemming from the province-wide assessment update in 2016 for the 2017-20 property tax years.

The tax rates were introduced for adoption by bylaw at the March 1 county council session. The residential tax rate for 2018 will be 0.2-per-cent less than the 2017 residential tax rate. Every $100,000 of residential assessment will be taxed at $386.94 in 2018, compared to $387.74 in 2017 - a reduction of 80 cents.