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Property taxes (Municipal taxes) fund many essential services, like policing and fire services, street, sidewalk and sewer maintenance, snow removal and more. Property taxes also fund recreation programs, pay for our parks, trails, and events.
Each year, Council determines the annual property tax rate during the annual budget approval process. The tax rate is determined by how much money it takes to fund the programs and services provided by the Town (Capital and Operations budgets) divided by everyone's assessed value. Your property tax rate is calculated as per $100 of your property assessment and your property is assessed by the Property Valuation Services Corporation.
The Town calculates your property taxes from your assessed value and the municipal tax rate.
Council's process
Council is now starting the lengthy process to develop our 25/26 budget. Council will be considering the programs and services they want and need to provide as well as the resources required to do so.
While Council have had numerous conversations with the director of finance and other staff to develop the version 1 draft, these are early days and many changes can and will still be made.
Your input
For community members, this is a time to follow along. You can review the budget reports and documents, make suggestions and attend a public presentation of the final version of the budget in the months to come.
Once Council has decided what programs and services they are offering, and once they are clear on how much this will cost, they set the budget and determine the tax rate.
How does PVSC value your home? Check out this short video to learn more:
Property taxes (Municipal taxes) fund many essential services, like policing and fire services, street, sidewalk and sewer maintenance, snow removal and more. Property taxes also fund recreation programs, pay for our parks, trails, and events.
Each year, Council determines the annual property tax rate during the annual budget approval process. The tax rate is determined by how much money it takes to fund the programs and services provided by the Town (Capital and Operations budgets) divided by everyone's assessed value. Your property tax rate is calculated as per $100 of your property assessment and your property is assessed by the Property Valuation Services Corporation.
The Town calculates your property taxes from your assessed value and the municipal tax rate.
Council's process
Council is now starting the lengthy process to develop our 25/26 budget. Council will be considering the programs and services they want and need to provide as well as the resources required to do so.
While Council have had numerous conversations with the director of finance and other staff to develop the version 1 draft, these are early days and many changes can and will still be made.
Your input
For community members, this is a time to follow along. You can review the budget reports and documents, make suggestions and attend a public presentation of the final version of the budget in the months to come.
Once Council has decided what programs and services they are offering, and once they are clear on how much this will cost, they set the budget and determine the tax rate.
How does PVSC value your home? Check out this short video to learn more:
