CAMBRIDGE -- Queen’s Park needs to give taxpayers a break from increased property assessments in 2009, Coun. Ben Tucci said.
He wants the four-year phase-in of increased property assessments to start in 2010, not 2009. Council passed his motion, despite doubts the province would bend the rules.
"I think we need to find a way, and the province needs to find a way, to soften the blow for the constituents . . . next year is going to be a difficult year."
The new assessments rule come into force Jan. 1. Properties that decrease market value see that reflected immediately on tax bills. Increases are phased in 25 per cent a year over four years. Then the property will be reassessed again.
Tucci wants that whole process delayed a year.
Changes in assessment don't automatically change property tax bills. Its a change in relation to the average change in assessment in a city.
In Cambridge, the average increase in residential property values is just shy of 21 per cent. Assuming no change in the city's tax rate, if your assessment increased less than that, your taxes should decrease. If your assessment is higher than average, your taxes would increase.
If council really wants to ensure 2009 property tax bills don't increase, it has the power it needs at budget time, said Coun. Linda Whetham.
"We know the province is not going to alter reassements. It's up to us as the city and region to lower the mill rate, which impacts the property taxes to homeowners."
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