The average Vernon taxpayer will officially be shelling out an extra $14 this year. The city set its 2012 tax rates bylaw Thursday and evened out some numbers to ensure there are no surprises. “We’ve achieved a rate 1.7 per cent above last year’s,” said Mayor Rob Sawatzky. Based on the assessed value of the average home ($336,676), that increase works out to $14. There had been some confusion with the numbers,
as a decrease in assessments meant the increase would actually work out
to 4.06 per cent over last year. “It’s back to where it was originally thought to
be (1.7 per cent),” said Coun. Bob Spiers. “I’m never happy with any
increase but this was more palatable than four per cent.” The 2011 average home in Vernon was assessed at
$340,976, but council did some adjustments to ensure they could keep the
tax increase under control. Assessed values are out of the city’s control. Sawatzky is pleased with the work that has been done by council and staff to keep the increase minimal. “I think it’s quite reasonable.” The increase for the business class is 2.66 per cent, which Sawatzky is also pleased to see.
“That’s lower than the provincial average which is around 3.2 per cent.”
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Don Quixote Note: The Mayor said that the business/residential tax ratio was 2.66 (basically unchanged from last year and compares quite favorably to the provincial average of 3.2. These are not percentages figures and are quoted incorrectly in the story. The 1.7% increase (which works out to $15.74 is for the Vernon average residential property valued at $333,676.
(use the Tax calculators on the right hand side of this blog to calculate your residential or business increase (decrease)
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