While neighbouring municipalities continue to hammer out their budgets, Montrose council is considering a six per cent rate increase for property taxes as well as a six per cent increase for three of the village’s parcel taxes, specifically those applied to roads, drainage and community development.
This equates to an approximate $31 increase for property taxes for the average valued home ($445,000) in Montrose, explains Larry Plotnikoff, chief administrator.
The proposed six per cent increase in parcel taxes would result in the roads parcel tax going from $125 to $132.50, the drainage parcel tax going from $50 to $53, and the community development parcel tax going from $5 to $5.30, Plotnikoff adds.
“This is the first rate change in these parcel taxes since 2016.”
As far as the budget process, Montrose council is planning to introduce the 2023-2027 financial plan and tax rate bylaws on April 17. Then on May 1, a public hearing will be held followed by a regular council meeting where the bylaws will be considered for adoption.