Council approves property tax rates

City council passed a bylaw Monday night setting the rates households and businesses will pay for property taxes this year.

Owners of residential property will pay $7.34 per $1,000 of assessed value.

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Although down from $7.60 last year, the owner of a typical home, valued at $300,680, will pay an extra $91 - pushing the bill up to $2,207 - to reflect the 4.3-per-cent increase in the tax levy.

For the city's share of the levy for the Fraser-Fort George Regional District, homeowners will pay $1.06 per $1,000. For the typical home, the bill will be $318, compared to $300 last year.

Those with homes valued below that level will see a smaller increase while those with homes above that level will see larger increases.

Businesses will pay $17.17 to the city and $2.59 to the FFGRD, major industry $53.32 and $3.59, and light industry would pay $27.62 and $3.59, with them accounting for 28.67, 2.82 and 13.2 per cent of the levy respectively.

Residential properties account for 67.3 per cent of the city's total assessed value. Business makes up 26.6, major industry 2.46 and light industry 0.97 per cent.

The total levy stands at just under $110 million.

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