Wollaston Twp taxes down 0.4 per cent for 2011, but your tax bill could still go up

Webmaster’s Note:  This post was revised with additional information May 17, 2011

COE HILL – Wollaston Township council passed a 0.43 per cent tax decrease for 2011, but the effects of the 2008 Ontario-wide property property reassessment continue to impact local tax bills.

As of Jan. 1, 2008, Wollaston’s average property assessment increased by 12.28 per cent compared to the value on Jan. 1, 2005.  The assessment change was divided into four for each property, to ease the impact on tax bills over four years, said Wollaston Township treasurer Verna Brundage.

The year 2011 is the third year of the four-year assessment phase-in by the Ontario Municipal Property Assessment Corporation.

The 2011 Wollaston property mill rate is 0.0140765 — or $1,407.65 in taxes on a property valued at $100,000. (The 2010 tax rate was 0.01413721 or $1,413.72, on a $100,000 property). Property taxes are calculated by multiplying the mill rate by the assessed value of a property.

Final 2011 Wollaston Township Budget

The Wollaston tax rate includes the Hastings County council levy, and the provincial school levy. Its not an even split between taxing agencies:  62 per cent of taxes collected in Wollaston stays with the local council,  21.2 per cent goes to the county and 16.8 per cent goes to the school levy.

Wollaston increased its taxes  2.98 per cent, but the final tax bill was down 0.43 per cent because the county levy decreased 6.66 per cent & the school levy decreased is 4.15 per cent, Brundage said.

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At 12.28 per cent, Wollaston Township had one of the highest average assessment increases in northern Hastings and Peterborough county municipalies as of Jan. 1, 2008, compared to Jan. 1, 2005.

Here’s how property value assessment change on average in municipalities around Wollaston Township in the last reassessment:

  • Bancroft – 7.87 per cent
  • Carlo-Mayo – 11.34 per cent
  • Centre Hastings – 7.88 per cent
  • Faraday – 11.59 per cent
  • Hastings Highlands – 9.70 per cent
  • Havelock-Belmont-Methuen – 10.23 per cent
  • Highlands East – 11.25 per cent
  • Limerick – 14.24 per cent
  • North Kawartha – 8.76 per cent
  • Madoc – 6.55 per cent
  • Marmora and Lake – 11.19 per cent
  • Tweed – 8.10 per cent
  • Tudor and Cashel – 16.39 per cent

Just because your property’s assessment went up, doesn’t mean your taxes go up at the same rate.  It is, however, a key factor in setting your property tax bill.

A property’s assessed value is a share of the total value of property a municipality can levy taxes on.  It’s  your proportion of the tax pie that changes, based on your assessed value multiplied by the tax rate.

 

 

 

1 comment for “Wollaston Twp taxes down 0.4 per cent for 2011, but your tax bill could still go up

  1. Jim Knight
    May 13, 2011 at 9:15 pm

    If the Assessment is up by 12.28% and the Township decreased the tax rate by 0.43%, it is not only possible that your taxes, on average will go up, but will definately go up by 11.85%, on average guaranteed.

    If the township wanted to increase taxes by 4.28% (which is a good increase) then they would need to decrease their tax rate by 8%. As the numbers clearly show, the township is increasing your taxes by over 11 3/4%, while claiming to have reduced the rate by a paltry 0.43%.
    Political Smoke & Mirrors, but your empty wallet will float higher as it lightens.

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