Port Edward property taxpayers will not see an increase in taxes this year. (File photo)

Port Edward property taxpayers will not see an increase in taxes this year. (File photo)

Port Ed holds the line in taxes

Home owners will not see parcel taxes this year

Port Edward homeowners will not be seeing significant changes in their property taxes this year.

This is in stark contrast to many other communities where taxes have substantially increased.

While Port Edward’s mill rate did go up, this was counter-balanced by the removal of parcel taxes that were in place in 2021, Lorraine Page, director of finance at the District of Port Edward, said on May 25.

“The tax rate has been adjusted so most homeowners should pay approximately the same amount of taxes as in 2021. Homeowners may see a small increase or decrease due to individual assessed values,” Page stated in a report to the council, on April 12.

A residential tax rate of 5.10 per cent was approved during a regular meeting on April 26. This is just slightly higher than 2021, when the tax rate was 4.73 per cent.

The minor increase in residential taxes comes from the general municipal tax rate, which is 3.95 per cent this year, up from 3.50 in 2021.

The district tax rate decreased from 0.66 in 2021 to 0.63 in 2022. Likewise, the hospital tax rate decreased from 0.57 in 2021 to 0.52 in 2022.

Council approved the 5-year financial plan during a regular meeting on March 8.

The district’s financial plan states that they will receive $271,161 from property taxes for 2022, 26 per cent of the total tax revenue. Utility taxes are budgeted to bring in $552,446 which accounts for 53 per cent of the total tax revenue. Business taxes make up the bulk of the rest of the tax revenue at $198,433 or 19 per cent of the total tax revenue.

READ MORE: Prince Rupert tax increase passed by Council


 
Kaitlyn Bailey | Local Journalism Initiative Reporter
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