The City of Yorkton's Tax Policy will remain basically the same as a year ago following a decision by City Council at its Committee-of-the-Whole meeting Monday.
In terms of residential properties the previous year's base tax of $695 will be reduced by $100 for garbage collection, a fee being moved to the water bills, and then the base tax will be raised $35 to cover additional police and fire protection services, explained Lonnie Kaal Director of Finance with the City.
The Gallagher Centre base tax to remain the same at $100
The Capital works base tax to be applied per property as was in 2010. The Capital works base tax of $100 to increase to $110
The increase in base taxes provides the funds required so the mill rate will stay the same at 5.2 mills. Collectively the above translates into a 3.14 per cent tax increase.
For multi-unit properties, including condominiums, the fire/police base tax of $630 be applied on all residential self-contained dwellings or units, said Kaal.
"The Gallagher Centre base tax of $100 be applied on all residential self-contained dwellings or units.
"The Capital works base tax of $110 be applied per property as was in 2010 or the capital base tax be deleted for all multi-unit properties including condominiums and this shortfall be made up by expected growth in the residential base taxes. Eg.: 43 houses @ $630 equals $27,090.
"The mill rate remains the same at 5.2 mills."
For commercial properties the $10 increase in capital works base tax provides the $5,250 of the $6,415,000 raised from this sector that:
"The Commercial sector will have a tax increase as budgeted at 2.44 per cent.
"The mill rate will increase of .70 on existing mill rate of 28.5 equals 2.45 per cent.
"The Capital works base tax of $110 to be applied to all properties."
