The Town of Huntsville has officially passed its 2022 consolidated budget with a net levy of $17,816,932. The operating budget was reduced by $17,609 due to a change in anticipated insurance premiums.
The net levy passed for 2022 represents an increase of $831,287 from 2021. The increase consists of $185,962 or 1.09 per cent in operating costs and $645,325 or 3.80 per cent in capital costs.
“The increase in the capital is the ongoing financial commitment to the Town’s Asset Management Plan. This increase in capital funding each year will assist the Town in reaching sustainable funding levels for rehabilitation and replacement of the Town’s infrastructure assets that provide the services to our community,” explained Huntsville director of financial services/treasurer Julia McKenzie via email correspondence.
The amendment has resulted in a 2022 tax increase of 2.14 per cent, down from the anticipated 2.24 per cent discussed in December.
The property tax increase means a residential home with a $300,000 assessment would pay an additional $25 per year. Commercial and industrial properties would see an annual increase of about $9 for every $100,000 in assessment.
“It is important to note that MPAC (Municipal Property Assessment Corporation) is still using the 2016 assessment values so that is why we have continued to use the $300,000 as the typical home in Huntsville…,” noted McKenzie.
The Ontario government has postponed the province-wide property assessment update. That means property assessments for the 2022 and 2023 property tax years will continue to be based on January 1, 2016 values, explained MPAC spokesperson Paula Chung.
She said MPAC continues to maintain an inventory of all properties and changes that occur each year in every property sector across the province. “We remain in a strong position to deliver the next province-wide assessment update, whenever that may be.”
With significant increases in property values since the pandemic started, many are concerned their property tax will go through the roof, but that is a common misconception, said Chung.
“Even though the assessed values of home[s] may increase following an assessment update, the overall tax level within a municipality does not change. Municipalities are required by regulation to reset their tax rates to offset the average change in property values as a result of reassessment,” she stated via email correspondence.
“A common misconception is that a significant change in your assessed value will result in a proportionately significant change in your property taxes. The most important factor is not how much your assessed value has changed, but how much your assessed value has changed relative to the average change for your property type in your municipality. If your property assessment has gone up more than average, your property tax bill will be proportionately larger. If your property assessment has gone up less than average, your property tax bill will be proportionately smaller.
“In addition, when your assessed property value is higher than it was in the previous valuation, we phase that new value in gradually over four years. On the other hand, if your assessed value is lower than it was previously, we’ll apply that lower valuation immediately,” she concluded.
You can find the Town’s approved consolidated budget, as amended, for 2022 here (PDF).
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I would like to see property tax charged on the services that we get not on the value of your home or if you live on the water or not , Why should I pay more because I like to have a nice home with nice landscaping and the guy next door cares less about his house lets everything run down all kinds of junk in the yard but only pays a small amount of taxes compared with me. meanwhile he has a motorhome a boat three snow machines a couple of atv. sitting there because he like to put his money into toys while I like to put my money into my home but doing that costs me more in taxes. We both get the same services.
Well done, well explained and well presented. Thank you.
The Tax increase. I would like to see the breakdown. You have been getting monies from new housing development plus the added taxes. What, in detail, does the tax increase cover? Be honest with the people of Huntsville.
Bill Beatty: Nice man! Don’t take the easy shot and make some snide remark about pickle ball.
I couldn’t help it.
Good work . All the savings from the snow removal budget can be used for Spring road repairs !