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New Tec tax levy set at 2.71%
May 9, 2013 · 0 Comments
The 2013 Tax Levying By-Law was enacted by council on Monday night and residents can expect to see an overall 2.71% increase over last years tax rates on their municipal bill.
The 2013 levy was originally expected to be a 2.78% net increase, however variations on residential assessments dictated the final numbers. The levy is based on a residential home with an average assessed value of $305,891 in New Tecumseth (up 2.02% over 2012).
For 2013, the municipal increase was 6.22%; the County portion of the municipal tax levy went up .43% over 2012 (based on a County levy – including waste management costs, of $131,472,447 of which New Tecumseth’s share is $12,919,367 or 9.83%) and the education amount went down 2.14%
Total taxes for the average residence will go up by $86.34 in 2013.
By Wendy Soloduik
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