Councillor argues for lower commercial rate
At a residential and resource rate of $0.95 and a commercial rate of $1.80 on each hundred dollars of assessment, the County of Annapolis has kept its tax rates on par with last year’s figures.
At the annual session of council on May 15th, council approved a balanced operating budget, its tax rates, and capital budget for the 2007-2008 fiscal year.
Councillor Peter Terauds was the only councillor to vote against the motion to approve the tax rate, arguing that the commercial rate should be lowered to take some of the burden off of local businesses.
While there is a concern that changes to the provincial CAP Assessment Program may diminish next year’s revenues, Terauds said that the commercial rate should not be used to mitigate this uncertainty. “We should be looking at how we can help the business community,” he told council.
CAO Keith Robicheau indicated that the commercial tax rate has remained the same as last year to offset the loss of revenue due to the continued phase out of business occupancy tax.
Unless businesses experience a significant rise in their assessments, their tax burden would either remain more-or-less the same as in 2006-2007, or decline, he explained, depending on whether or not they qualify for a further deduction in their business occupancy tax this year.