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Residential taxes in Castlegar to decrease despite rate hike

Castlegar homeowners may be happy to hear that, although tax rates have increased, the average homeowner will actually be paying less this year, according to a report received by council at its regular meeting last Monday.

Director of financial services Andre Buss told council that, although tax rates have increased for residential rate payers, so too have homeowner grants, creating a net reduction of the average homeowner’s bill.
“Presented in the financial plan was a`2011 tax increase of three per cent for residential properties … (increasing) the municipal tax levy by approximately $21,” Buss said. “The good news is, 2011 will see a $200 to Home Owner Grants, and this will cause total taxation on an average property to decrease by about $121 or 10 per cent.”
“Also good news is that businesses in the downtown revitalization area will enjoy a significant tax reduction,” he added. “In 2011, downtown area business will no longer be charged a downtown revitalization tax, and this will provide a year-over-year reduction to the downtown business taxes of approximately 18 per cent.”
Council voted unanimously to pass the tax rates  bylaw.