The City Proposes a 1.5% Increase to the Mill Rate
The City of Prince Rupert is proposing a 1.5 percent increase to the mill rate , due to a 160-thousand dollar shortfall in the 2017 budget.
Now that the public budget consultation meetings have taken place— which provided an opportunity for community members to share their opinions to questions from Council and staff, Mayor Brain says he wants residents to be aware that each resident should calculate the individual impact to themselves based on the proposed increase – as taxes collected will be based on whether the assessed values of homes went up or down.
“One thing that I want residents to know is that just because there’s a 1.5 tax increase doesn’t mean your taxes are actually going up. In fact, many people, over 16-hundred people’s homes are actually going to have their taxes decreased this year. So regardless if the City raises taxes or doesn’t, people’s values will just base on the BC assessment values.”
Brain says on March 31st the final property assessments from BC Assessment will come forward and the City’s financial department will bring forward the final consideration of the Budget. Council will then have further discussions and vote on the budget in April.