Property owners in Quesnel will see an increase in the municipal portion of their property taxes in 2019.
The average residence in Quesnel, valued at $200,544, will see an increase of $40.96 in the municipal tax position of their property tax invoice, or $20.43 per $100,000 of assessment.
The average single-family residence in Quesnel, which is assessed at $200,544 (up 7.9 per cent from $185,843 in 2018), will pay $957.35 in municipal taxes, which is broken down into $791.95 for general taxes, $15.44 for airport taxes, $27.25 for transit taxes and $122.71 for capital reinvestment taxes. General taxes increase $35.40 over 2018, while airport and transit taxes both increase $3, and capital reinvestment taxes decrease by 44 cents.
Commercial properties will see an average increase of $67.08 per $100,000 assessment.
“This year is the first year the industry freeze is over, so industry will see a lift in their actual cash value tax as opposed to what they’ve seen the last three years when it was capped at the 2015 levels,” said Mayor Bob Simpson.
Per $100,000 assessment, commercial properties in the city will pay $1,322.14 in general taxes, $25,78 in airport taxes, $45.49 in transit taxes and $204.87 in capital reinvestment taxes. General taxes are increasing by $58.02 per $100,000 assessment over 2018, while airport taxes are increasing $4.99, transit taxes are increasing $4.98, and capital reinvestment taxes are decreasing by 92 cents.
At this point, both the capital and operating budgets have been completed and approved. The City has received final assessments from BC Assessment and tax rates from the other taxing authorities, such as the Cariboo Regional District, the Municipal Finance Authority and BC Assessment.
Council gave the 2019 Tax Rate Bylaw first, second and third readings at its April 30 meeting.