PROPERTY TAXES & ASSESSMENTS
Your property tax is calculated using two key elements:
- The assessed value of your property
- The general tax rate and area rates for your specific community
Rates for 2023/24 are as follows:
- Residential: $0.853/$100 of Assessed Value
- Commercial: $2.287/$100 of Assessed Value
The 2024 Property Assessment Notices have been sent out from Property Valuation Services Corporation (PVSC). It is important to note that all property owners have the right to appeal their property assessment if they disagree with the assessment, ownership or classification of their property.
Any appeal has a strict deadline, as indicated on the assessment notice. If you plan to appeal your assessment with PVSC, ensure that you do so before the deadline.
The Capped Assessment Program (CAP) rate for 2024 has been set at 3.2% by PVSC. If you require further information about property assessment, including the CAP program and appeal process, please visit www.pvsc.ca.
Property assessments and potential tax revenue for the Municipality, like any other year, will factor into the 2024/25 budgeting process and will influence the proposed municipal activities, projects, and tax rates that are approved by Council.