Tax decrease possible for thousands of properties in North Bay

Over 17,600 properties in the city could realize a tax decrease this year.

That information is contained in a city staff report sent to committee at last week’s council meeting.

The overall tax rate decrease, including the published education tax rate, is estimated at 1.49%.

The report says assessment value shifts and the recognition of the increases in second year phase-in values for 2018 are reasons why.

There’s also continued pressure from the levy restriction legislated on the multi-residential class.

Just under 2,300 properties will see a tax increase.

You can find the 2018 Assessment Analysis & Tax Policy Review HERE.