Long-term Property Tax Strategy

Wendy on Long-term Property Tax Strategy Carleton Place is well-known for having the lowest property tax rates among the comparable-sized communities in our region. We want to keep it that way. Our residents need to know that they can count on a Mayor and Council who are committed to providing quality services at a reasonable cost. They want to know that there is stability and predictability in the tax rate from one year to the next. From an economic development standpoint, a long-term property tax strategy allows developers to plan what price range of homes can be built in our community. In addition, reasonable property tax rates, without wide fluctuations from year to year, are an incentive to invest here, to build here and to move here. In January of this year, the municipal auditor, Howard Allen, suggested that we create a long-term property tax strategy based on a predicted 10-year budget including expected revenues from tax dollars from new growth and established homes and businesses and predicted re-assessment growth, and expected operating costs and forecasted asset management spending. In follow-up discussions with Mr. Allen, he advised that the fundamental question must be: can we meet our long-term goals for the community at a, for instance, 2% property tax increase per year? If the answer is yes, then there should be no surprises down the road, except he notes, that the best intentions of any Mayor and Council are at the mercy of provincial funding uncertainties.