NIPAWIN 鈥� Within the Town of Nipawin, the average taxable assessed value for residential properties is $101,600, and the average taxable assessed value for commercial properties is $208,000.
According to Lesley Richer, Nipawin鈥檚 chief financial officer, while Nipawin鈥檚 residential assessments may have decreased by about four per cent, for a homeowner who received the same assessment as last year, they may notice a small increase on their tax bill.
鈥淭he Town of Nipawin budgeted to generate an additional two per cent of tax revenue in 2021. This will not directly correlate to a two per cent tax increase for each taxpayer because of a few factors,鈥� Richer said.
鈥淚n 2021 there were additional properties now deemed taxable. One example, a new house was built and had been on a tax incentive which ended in 2020 and is now taxable starting in 2021.鈥�
Richer explained that by having more taxable properties, the tax revenue is now generated over more properties.鈥�
As a result, properties that experienced an increase or decrease in assessed value due to renovations or demolitions will see a change to their tax bill because of this.
In using residential property as an example, Richer explained that on average, residential properties decreased in assessed value by four per cent. If a residential property experienced the average four per cent decrease, it will see an approximate two per cent increase to its tax levy.
If a residential property decreased in value more than four per cent, it would see a benefit because of this. If a residential property increased by more than four per cent, it would see higher taxes.
In the town鈥檚 May 25 council meeting, council passed a 6.6 mill rate.
In a report to the town鈥檚 administrator, Richer noted that council鈥檚 goal was to generate the same percentage of total revenue from each property tax class as in 2020.
Once adjustments to individual classification are applied, residential rose from 4.12 mills to 4.46 mills, and commercial rose from 6.27 to 6.75 mills. Agriculture lowered from 1.43 mills to 1.36 mills.
