Tax Rate Bylaw Before Council
Prince George, B.C. – When Council for the City of Prince George meets this evening, it will be asked to approve the tax rates for the different classifications of properties in the City.
The bylaw represents a 3.18 % increase in the tax requisition to cover the City’s operating costs for 2017.
For 2017 the City needs to collect $86,047,802 in General municipal taxes, the snow levy at $7,000,000, the road rehabilitation levy at $5,000,000, and general infrastructure reinvestment levy at $2,500,000 for a combined total of $100,547,802.
Here’s how the total amount needed will be distributed among property classes:
- Residential 54.19%
- Utility 1.49%
- Supportive Housing 0.00%
- Major Industry 12.24%
- Light Industry 2.74%
- Business 29.27%
- Recreation/Non-Profit 0.05%
- Farm 0.01%
If approved this evening, a residential property owner will be required to pay $8.90752 for every one thousand dollars of assessed value. The total bill will be reduced if the property owner qualifies for the grant, or any other permitted reductions such as age.