(photo credit/Lyn Hawley)

(photo credit/Lyn Hawley)

Zeballos retains tax rates from 2019 to avoid any strain on residents during COVID-19

The council has decided to adopt the 2019 general municipal tax rate for the 2020 tax year

For its 2020 budget, Zeballos has decided to apply the same tax rates as 2019 for its residents.

Homeowners will pay a property tax of $18.105 per $1,000 of taxable assessed value. On a home assessed at $100,000, the property taxes would be $1,814.79.

Zeballos’ chief administrative officer, Meredith Starkey said that the reason for keeping the tax rates static was to avoid adding any further pressure on people during COVID-19.

The general municipal tax, one part of the overall property tax, is the only tax rate set by the village at $13.105 and is kept by the village as revenue.

If the village adopts the 2019 general municipal tax rate for the 2020 tax year, its anticipated taxation revenue is $190,060. This represents an increase of 0.85 per cent in revenue over last year, resulting from increased assessment values on non-residential properties.

At the same time, the residential property assessments in Zeballos decreased by a little over one per cent, owing to which homeowners will pay less property tax in 2020.

READ ALSO: Zeballos doesn’t expect to feel the pinch of COVID-19 restrictions until tourist season

READ ALSO: Gold River to increase property tax to 7 % for financial year 2020

Property taxes