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Prince Rupert property owners will see 1.2 per cent tax increase in 2014
In a four to three vote, Prince Rupert city council approved a 1.2 per cent tax increase across the board.
A decision on the bylaw recommending to bump up property taxes was tabled in mid-April because of a councillor absence, with special meetings being held Tuesday and Wednesday to vote on the proposed increase once again.
According to Corinne Bomben, the city's CFO, collecting 1.2 per cent more from Prince Rupert property owners will give the city an extra $136,000, which would balance the 2014 budget.
All councillors attended the meetings, aside from Mayor Jack Mussallem who joined by teleconference. Councillors Judy Carlick-Pearson, Barry Cunningham, Gina Garon and Joy Thorkelson voted in favour of the property tax bylaw, while Anna Ashley, Nelson Kinney and Mussallem were opposed.
With the passing, the City of Prince Rupert will collect $14,510,000 in property taxes this year: 45 per cent from residential taxes, 30 per cent from businesses and 20 per cent from major industry.
According to the BC Assessment agency, the average assessed value of a home in Prince Rupert is about $196,000. With a 1.2 per cent rise in taxes, the average Prince Rupert homeowner will pay $19.58 more in 2014 for a total municipal tax levy of $1,632.
A house valued at $100,000 will owe about $10 more this year, with $350,000-assessed homes being levied about $35 more. Rupertites with homes worth $600,000 will be charged just under $60 more in property taxes in 2014, equalling nearly $5,000.
The 2014 city budget is now approved.