Blacks Harbour residents face tax increase - Jan. 18, 2013
Village residents will see a one cent increase in their tax rates this year after village council approved a rate of $1.5589 per $100 dollars of assessment at Wednesday night’s meeting.
The average value of a home in Blacks Harbour is $77,164 so the impact of the change would be an average increase in property taxes of $7.72 (0.6 per cent) from $1,195.19 in 2012 to $1,202.91 in the current year.
The total tax base for the village this year is $62,198,550 compared to $61,427,450 – an increase of $771,100 or 1.3 per cent.
Council approved a total general fund budget of $1,324,705 for 2013 compared to $1,293,308 last year. The warrant to be raised by the local taxes was approved in the amount of $969,629.
CEO Heather Chase explained that the 89 per cent increase in funding for environmental development is because council is trying to expand some of its capital assets and, hopefully, do some preliminary work and planning that might lead to future development. She said this is an investment strategy to try to grow the tax base in the village.
Council also approved its utility fund expenses and there will be no increase in water and sewer rates which will remain at $468 annually.