Squaring rising assessments with flat tax rates in Tantramar
CHMA talks with Tantramar CAO Jennifer Borne and treasurer Michael Beal about why this year’s sharp rise in assessment values for residential property owners is not matched with a reduction in the tax rate.
“Five years ago, we were buying fire trucks for $350,000,” says Beal. “Our latest one is $800,000 for the exact same truck.”
Borne and Beal explain how rising municipal costs, assessment spike protection, and provincial and federal properties in the municipality affect overall tax revenue.