North Bay Council sets 2020 tax rates

North Bay, ON – April 22, 2020 – North Bay City Council has finalized property tax rates for 2020.

The tax rate determines the amount of taxes an individual property is required to pay for municipal services and should not be confused with the tax levy, which is the total amount that is to be collected from all properties as a whole.

The 2020 tax levy was set at 4.8 per cent (after growth) in December when Council approved the 2020 operating budget. As a result, the first of two tax bill installments has come and gone. Now that the tax rates have been set, final installments will be calculated.

For residential homeowners, the combined (municipal and education) property tax rate increase is 1.80 per cent. It’s important to note, however, that taxes are based on assessment, which means that a tax rate increase does not necessarily mean an increase in the amount of property taxes paid compared to previous years.

While final tax bills are expected to be issued at the end of June, the City is allowing for payment deferrals and interest relief during the COVID-19 pandemic.

The following chart reflects the projected tax impact to the residential class.