posted Jun 4, 2011, 8:23 AM by Kelly Collard
updated Jun 4, 2011, 10:59 AM
- Sarah Frank
- Parry Sound North Star Jun 03, 2011 - 11:38 AM
Seguin lowers tax rate again
SEGUIN TWP - Seguin ratepayers will once again see a drop in their tax rate this year. The residential municipal tax rate will fall from about 0.38 per cent to 0.36 per cent. According to Seguin Township Chief Financial Officer Michele Fraser, the decision to lower the rate came with the four-year graduated property assessment increase that began in 2008. This means that if during the four-year period, a taxpayer’s property value increased by 100 per cent, they will see a 25 per cent increase each year. “The first thing we do is pull the tax rate back,” said Fraser. “If one goes up the other can go down.”
Fraser also said that because of assessed property values, just because municipal taxes are lower, that doesn’t necessarily mean all residents would see a decrease in their property tax. Property owners whose assessment goes up 3.75 per cent will see no increase, and those whose increased by less than 3.75 per cent will see a decrease.
As explained on the municipal newsletter, $100,000 of a home’s assessed value in 2010 is $104,980 in 2011: That equals $384.59 in 2011 municipal property taxes, excluding the public school system’s portion.
Mayor David Conn attributes the lowered tax rate to professional, hard-working staff and long-term planning.
“One of the things we like to do in Seguin is plan long term - and we do it well,” he said. “We are very pleased about the fact that we will be debt free in two years.”
The municipality’s financial standings are a result of a plan the municipality has been working on for seven years, said Conn.
“We are all working as a team to keep costs as low as possible,” he said.
Conn said the municipality is lucky to have a motivated and skilled management team, including chief financial officer Michele Fraser.
“Michele understands the residents of Seguin, and she really understands our community,” he said.
Compared to other area municipalities, Seguin had managed to keep its tax rate on the low end of the scale.
The Town of Parry Sound’s rate came in at about 1.06 per cent, and McDougall at close to 0.57 per cent.