The Ministry of Finance has released the education rates for 2012. With this, the three numbers needed to decipher this year’s municipal taxes are complete and property owners can expect to pay a slight increase.
“By my speculation,” said South Dundas mayor Steven Byvelds on Tuesday, “it will be just over three per cent, but I can’t be 100 per cent positive without all the numbers.”
“There’s a small decrease from the South Dundas end.”
The Township of South Dundas completed their 2012 budget deliberations on March 12th while the United Counties of Stormont, Dundas and Glengarry completed their budget on March 19th.
Byvelds pointed out that “the Counties had a 3.1 per cent increase and ours is 3.5 per cent.”
To determine the amount to be paid out by a residence for the education portion of the tax bill, South Dundas treasurer Shannon Geraghty provided a comparison example:
• A 2011 assessment at $149,090 equates to taxes of $344.40.
• A 2012 assessment with phase-in at $157,260 equates to taxes of $347.54.
The education rate, determined by the Ministry of Finance, is standard on all assessments regardless of school board, whether it be public, Catholic or French Catholic.
As explained in the March 14th edition of The Leader, each home’s taxes are affected by the Municipal Property Assessments.
There has been a 5.48 per cent average increase on assessments due to the Municipal Property Assessment Corporation’s four-year phase in.
What all of this boils down to is an approximate overall increase of just over three percent in municipal taxes for South Dundas.