HUMBOLDT — Taxes for Humboldt’s residents and businesses will be less than expected at budget time.
The budget, passed on Dec. 9, assumed a 2.4 per cent tax levy increase.
After crunching the numbers, the average increase for residential property owners will be two per cent, condominiums 1.9 per cent and apartments 0.8 per cent.
A median home in Humboldt with a taxable assessment of $189,600 will be paying around $1,962.84 in municipal tax, an increase of around $49.87 from last year.
Businesses will see an average increase of 1.1 per cent, while warehouses and workshops will see a 0.7 per cent increase. Agricultural property owners will see a 1.6 per cent average increase.
“We're glad that those numbers did come out lower than we anticipated,” said Rob Muench, Humboldt’s mayor, after council approved the tax rates at the May 25 council meeting.
The mayor said one of the reasons the tax increase is lower than expected is because there were new businesses and properties that started to pay tax this year, shouldering some of the burden.
Muench said the pandemic did not factor into how the final tax rates were calculated.
“That's just the way it worked out and we're glad that it did because people can certainly use the extra money in their pockets at the end of the day.”
