Taxes in the Town of Parry Sound will not go up. At a special meeting of council last night, a resolution was passed to approve the budget at a zero percent increase. Mayor Jamie McGarvey explains how some people may still be paying more taxes this year.
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Assessments to homes did go up this year so taxes could rise depending on the assessment of your home. Council originally asked staff to come back with a one percent tax increase, but new money was found through MPAC reassessments and by staff cutting small amounts in the budget. McGarvey explains what council would have done with a one percent increase and how it can still be partially achieved with a zero percent increase.
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The zero percent increase will still allow for $70,000 to be put in reserves where council already has about $9 million. The budget passed last night is only approval in principle as external levies still need to come in. Director of Finance Trevor Pinn expects to have those levies in time to present a by-law to formally adopt the 2014 budget at the second council meeting in April.