Duane Hicks
With its 2013 budget all but wrapped up, town council is moving forward with a levy increase of 1.8 percent for residential taxpayers, which translates into an overall tax rate increase of 0.677 percent.
What this will mean is that residential taxes will go up $12.65 per $100,000 of assessment.
However, some people will pay more and some less due to the most recent round of Municipal Property Assessment Corp. reassessments.
On average, the assessment of homes in Fort Frances went up three percent. This means that taxes for a home assessed at $100,000 last year will go up $69.13 if the assessment of that home went up three percent.
A home assessed at $150,000 in 2012 that saw an three percent increase will see its taxes increase by $103.69.
A home assessed at $200,000 in 2012 that saw an three percent increase will see its tax go up by $138.26.
Levy changes to other classes include:
•multi-residential—1.98 percent (an increase of $47.23 per $100,000 of assessment);
•commercial—1.5 percent (an increase of $12.94 per $100,000 of assessment);
•small industrial—.8 percent (an increase of $12.69 per $100,000 of assessment);
•large industrial—.9 percent (an increase of $23.14 per $100,000 of assessment);
•pipeline—1.6 percent (an increase of $54.71 per $100,000 of assessment); and
•farmland—1.85 percent (an increase of $3.16 per $100,000 of assessment).
The tax increase is necessary to balance the 2013 budget, which has an operating deficit of $210,870.
This deficit was $372,341 at the start of yesterday’s budget meeting.
But that was lowered considerably by council’s decision to implement a new environmental fee, as well as new landing and terminal fees at the Fort Frances Airport.
