Posted July 8, 2013
When does a 2013 property tax rate jump from 2.96 per cent to 5 per cent?
Just about now as you may have opened the latest missive from the city financial department. It explained an adjustment to schedule 2.
Last fall, city council approved a 2013 budget that set the property tax rate increase at 2.96 per cent. As it turns out that was a myth, a fairy tale, a sample of what wasn’t to come.
Following that approval meeting we went to bed that night thinking the tax rate increase was better than expected all things considered.
It was not to be. Now we are told midway through the year that the real increase in our case is 5 per cent. Like all taxpayers we have already received the final tax bills for the year. Is it possible that this figure was determined before the final tax bills went out? Did they not want to make we natives restless?
That’s the only explanation as the new notice states our tax bills will not change this year despite the increase.
What’s going on?
Estimating an overall average 5 per cent uptick is $125 per household and business, that’s a miscalculation of $5 million in revenue.
And that fellow taxpayers is why there is growing mistrust of the administration’s management of our money.