ERIN – Council here has approved the proposed 2022 interim tax bylaw, which will provide approximately $3.5 million in residential taxes to the town.
In a Feb. 10 council meeting, the report, prepared by director of finances Oliver Gob, outlined the town’s 2022 interim tax levy which has been set at 50 per cent of the 2021 tax levy.
The interim tax levy is calculated at an amount “not to exceed 50 per cent of the total amount of taxes for municipal and school purposes levied in the previous year,” the report to council notes.
Council approval is required to allow the town to bill and collect the tax levy.
In an email to the Advertiser, senior communications officer Lavina Dixit said the 2022 interim taxes for a home assessed at $600,000 will be approximately $3,238.
Of that amount, $913.64 will go towards the town, $1,865 to the county and $459 for the education boards.
In total, Gob said the interim tax levy bylaw will provide approximately $3.5 million for town purpose, $7.9 million to the County of Wellington and $2.3 million for education purposes for a total tax amount of $13.7 million.
The levy allows municipalities to collect taxes in the current year before final tax rates have been approved to provide cash-flow for the municipality and to spread out the payments for taxpayers, the report explained.
The interim tax levy has two instalment dates – March 31 and May 31.
In addition to the monthly pre-authorized payment plan option, Gob noted residents will now be provided the option of a pre-authorized payment plan to pay the instalment amount of their taxes on the instalment due dates.
Staff anticipate providing this option will reduce the number of posted cheques received in the finance department.
