Pelham passes 2023 budget with 5.9% tax hike to residents
Published February 9, 2023 at 11:42 am
When it all boiled down to the finish, the average Pelham homeowner can now expect to pay another $188.50/year in property taxes.
Granted, in their summations, city council released a figure of a $122/year but perhaps lowballed it a little by basing it on a home assessed at $375,000.
In truth, the average house in Pelham actually runs $579,450, according to canadianrealestatemagazine.ca, so that would boost the number to $188.50.
Regardless, in the end, Pelham passed their 2023 capital and operating budget earlier this week with a 5.9 per cent tax hike on local homes.
“The Town continues to build reserves, which ensures fiscal responsibility that balances the needs of the community while respecting the taxpayer’s ability to pay,” said Teresa Quinlin-Murphy, Pelham’s Director of Corporate Services and Treasurer.
Residents will receive the 2023 tax bill in the spring, which is accompanied by supporting material to show the breakdown of how tax dollars are spent within Pelham.
Taxes are calculated based on the assessed value of each property provided by the Municipal Property Assessment Corporation, a provincial body outside the control of the municipality and multiplying the assessed value of the property by the total tax rate for the class of property.
insauga's Editorial Standards and Policies advertising