District of Clearwater will be holding the line on taxes this year.
“We are very cognizant about where people and businesses are with their finances,” said Mayor John Harwood. “It means we won’t be able to put so much into reserves, but we hope to find other places to save as well.”
During last Tuesday’s council meeting, councilors voted to approve a recommendation from their finance and audit committee that staff be directed to prepare the 2011 annual tax rates bylaw that would see rates remain the same as last year.
Property tax revenue therefore is projected to remain at $1.2 million, with transfers to surplus remaining at $240,000.
Residential tax rates will see a 0.8 per cent decrease, or $2.07 per year on an average household.
Business tax rates will see a 1.83 per cent increase, or $13.34 per year for the average business.
Harwood noted that assessments have gone up and down within the district’s boundaries, and so each individual property owner can expect to see his or her taxes go up or down accordingly.
He also noted that about $400,000 in building permits were taken out for within the municipality during the first three months of 2011. This compares with just $5,000 during the same three months last year. Increased building should eventually mean increased total assessments, which in turn should mean a greater ability to share the tax burden around, the mayor said.
