Williams Lake City Council have approved a 10 percent residential tax rate reduction, in an effort to counter rising home values.
Council gave three readings to their 2022 Tax Rates Bylaw last night, including the reduction after many homeowners saw spikes in their property assessments.
If the bylaw is adopted the municipal portion of residential property taxes will be set at $7.48 per $1,000 of assessed home value.
Most businesses will pay $16.54 per $1,000 of value, with a chart including rates for industry, recreation, and agricultural properties available below.
While they make up nearly 78 percent of the City’s assessment value, residential property owners will hold 44 percent of the total tax load.
Comments