AH taxes to increase four per cent
Posted: Thu Mar 26, 2015 11:49 amResidents of Algonquin Highlands can expect their property taxes to rise approximately four per cent for 2015.
While the tax rate bylaw has yet to be officially passed, councillors for the township did finalize budget expenditures during a March 19 meeting.
Much of that tax increase is attributable to an increase in OPP costs as a result of the new policing billing formula being enacted by the province.
This year is the first year of a five-year phase-in of that formula, which attempts to redistribute the costs of the OPP evenly on a per household basis throughout the province.
During the five-year period, OPP costs for Algonquin Highlands will grow from $330,000 to approximately $1,075,000.
This year, its policing bill will jump from $330,000 and $500,000 and councillors have decided the only way to deal with the increase is to pass it to taxpayers.
The increase in policing costs represents a 4.37 per cent increase in the total tax levy, which is some $4.2 million for the year. The township’s operational increase represents a 1.15 increase in the levy and there is also a 1.19 per cent increase in growth – new taxes.
The overall increase for residents on their tax bill is expected to be 3.96 per cent.
Property taxes at the upper-tier level will increase 2.71 per cent.
Algonquin Highlands projects to have $2.9 million in reserves at the end of 2015.
http://mindentimes.ca/?p=6488
While the tax rate bylaw has yet to be officially passed, councillors for the township did finalize budget expenditures during a March 19 meeting.
Much of that tax increase is attributable to an increase in OPP costs as a result of the new policing billing formula being enacted by the province.
This year is the first year of a five-year phase-in of that formula, which attempts to redistribute the costs of the OPP evenly on a per household basis throughout the province.
During the five-year period, OPP costs for Algonquin Highlands will grow from $330,000 to approximately $1,075,000.
This year, its policing bill will jump from $330,000 and $500,000 and councillors have decided the only way to deal with the increase is to pass it to taxpayers.
The increase in policing costs represents a 4.37 per cent increase in the total tax levy, which is some $4.2 million for the year. The township’s operational increase represents a 1.15 increase in the levy and there is also a 1.19 per cent increase in growth – new taxes.
The overall increase for residents on their tax bill is expected to be 3.96 per cent.
Property taxes at the upper-tier level will increase 2.71 per cent.
Algonquin Highlands projects to have $2.9 million in reserves at the end of 2015.
http://mindentimes.ca/?p=6488