A lot of people in Yorkton have sticker shock after looking at their property assessment, and seeing huge increases.
With the city looking at a 6.68% mill rate increase, what does all this mean for taxpayers? Will you pay the increased assessment and higher tax?
City director of finance Shannon Bell says “no”, because the city would reduce their rate by the same amount.
“If we saw a 25 per cent increase in assessment, generally we see a 25 per cent decrease in tax rates.” She said
“Once that is done, we go into budget; so if we’re looking at a 6.68 per cent increase in tax revenue, then we will apply that percentage increase to those reduce rates.”
She says full information is available on the city’s website, www.yorkton.ca.