City Council in Duncan is set to give the 2015 budget its first three readings Monday night
The budget includes a tax increase of 2.68 per cent for residential properties.
City staff estimate that will work out to about 31 for a typical residential property, but the City’s share of Regional District and Regional Hospital District taxes will add another 51 dollars.
Here’s the breakdown:
The average single family home that saw a 1% decrease in assessment will see a 2.68% increase in municipal taxes ($30.83 if the home is now worth $249,060).
The average strata home that saw a 2.45% decrease in assessment will see a 1.17% increase in municipal taxes ($7.59 if the home is now worth $138,085).
The average commercial property that saw a 2.3% assessment increase will see a 1.18% increase in municipal taxes ($61.05 if the property is now worth $438,937).
Regional District and Regional Hospital District tax increases further increase single family taxes by $51.03 on the average home and $292.12 on the average commercial property.