New Tecumseth drops tax increase to 3.39%

By Brad Pritchard Alliston Herald

New Tecumseth homeowners will pay slightly less on their taxes this year thanks to higher than anticipated growth.

When council passed the 2016 budget, the estimated average municipal increase was set at $73.85, a 4.4. per cent increase over last year.

The figure was based on an estimated growth assessment of $625,000, but the actual growth assessment has now been calculated higher at $913,258.

The change reduces the average municipal tax increase to $59.20, or 3.39 per cent over last year.

Including Simcoe County taxes (two per cent) and education taxes (0.35 per cent), the blended rate works to $80.61 for the owner of an average home worth $328,512, an increase of 2.42 per cent over last year.