The average Brandon homeowner will see a property tax hike of nearly $68 this year.
The Brandon School Division passed its 2014-15 budget earlier this week, which includes a 2.9 per cent tax increase.
The school division tax increase combined with the city’s tax increase (1.4 per cent) equates to just under $68 per year, or $5.66 per month, for a house assessed at approximately $220,000. This means the total taxes due, when subtracting the $700 homeowner grant for primary residences, would amount to $2,593.
When broken down, $25 from the municipal tax increase, combined with $43 from the school division’s tax increase, makes up the $68.
Individual properties may see increases more or less than this depending on the assessed value of their property and how much that property has increased in assessed value since last year.
The city will hold its final public hearing on the budget at the next city council meeting on March 17.
“It’s more just a final step in terms of presenting the budget and what the final numbers look like with all of the impacts from council deliberations in place,” said city treasurer Dean Hammond.
“Luckily this year too, the school division has wrapped up so we have the final numbers for both us and the school division.”
The adoption of the city’s financial plan is scheduled for April 7.
» Brandon Sun