A tax rate is the rate of taxation applied against the assessed value of property within a municipality to collect the revenue required by the various taxation authorities. Normally, the tax rate is expressed in mills (dollars in tax paid per thousand dollars of assessed property value) or sometimes as a percentage of the property’s assessed value. For example, a tax rate of 1.5% on a home valued at $100,000 would require the payment of $1,500 in annual property taxes.
2016 Mill Rate breakdown is as follows:
|Green Acres Foundation
*Exempt by City bylaw
- The Single Family Residential and Farmland Mill Rate for 2016 is 10.370.
- The Multi-Family Residential Mill Rate for 2016 is 13.822.
- The Non-Residential Mill Rate for 2016 is 22.588.
- Machinery and Equipment is exempt from Municipal taxation by City Council.
Historic mill rates can be found here!
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