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Trillium Ford

Final 2017 tax rates push average property tax bill higher

Posted May 12, 2017

The tax ratios established each year by Simcoe County used to calcuate the final property tax bill for New Tecumseth ratepayers pushed the municipal portion up by $2.31 setting the average increase at $95.64 or 2.81 per cent, versus $93.43 or 2.74 per cent as reported when the 2017 budget was approved, on a home with an assessed value of $345,791.

The increase would have been higher if not for a lower education rate, according to the finance department report to council on Monday night's agenda, because "the final County residential rate is higher than the rates that were estimated by staff and used through the 2017 Budget process. The impact of the changes between these two rates basically eliminate one another in the calculation of the tax impact on the average home in the Town."



New Tecumseth will tap its ratepayers for $29,514,552, while the County's take will be $16,118,430, which represents 10.58 per cent of its total levy of $154.4 million.

Overall, New Tecumseth's assessment base for taxation purposes is more than $5.6 billion. The largest portion is residential English public school board supporters, which is $3.8 billion The next closest was Farmland Englush public school board, $300 million.

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All stories, unless otherwise noted,
by Tony Veltri
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