The City calculates property taxes based on a property assessment and the annual tax rate set by Council.
For example: $470,000 (property assessment) x 0.00652619(tax rate) = $3,067.31 (property taxes)
Of the $3,067.31 collected in property taxes:
| Municipal | Education tax* | Other public requisitions | Total rate | |
|---|---|---|---|---|
| Residential | 0.00426832 | 0.00218208 | 0.00007579 | 0.00652619 |
| Non-residential | 0.00896364 | 0.00341684 | 0.00007579 | 0.01245627 |
*Education tax is directed to either the public school system or the separate school system based on the school support declaration. If no declaration has been made, education tax is directed to the public school system.
| Designated industrial property additional requisition | 0.00007650 |
| Municipal | Education tax* | Other public requisitions | Total rate | |
|---|---|---|---|---|
| Residential | 0.00448106 | 0.00217054 | 0.00004617 | 0.00669777 |
| Non-residential | 0.00941019 | 0.00357488 | 0.00004617 | 0.01303124 |
*Education tax is directed to either the public school system or the separate school system based on the school support declaration. If no declaration has been made, education tax is directed to the public school system
| Designated industrial property additional requisition | 0.00007460 |