South Peace News
Annual tax notices were sent in the mail last week for Big Lakes County property owners after council finalized the bylaw.
At its regular meeting May 11, council adopted the 2016 tax bylaw. The municipal mill rates remain the same as last year.
“The only increases are the education and seniors housing mill rates, or if the property assessment was higher than last year,” Reeve Ken Matthews says.
While municipal rates are set by council, education and seniors’ housing requisitions are determined by authorities outside the municipal jurisdiction.
Overall, the mill rates have been adjusted for residential and farmland at 6.8077, industrial/commercial/linear at 18.6197, and machinery and equipment at 14.6444.
Using those figures, taxes will increase marginally, calculated by Landiuk to reflect no changes to the assessment values from last year.
For a residential and farmland property assessed at $350,000, taxes will be $2,382.70, up by $14.11.
For industrial, commercial, and linear property assessed at $500,000, taxes will be $9,309.85, an increase of $205.65.
For machinery and equipment property assessed at $750,000, taxes have been calculated at $10,983.30, up by $6.