Eight Percent Plus Residential Tax Rate Approved

Property Tax increases were discussed earlier in Executive Committee but it was silence as Council approved passage of the Property Tax Bylaw for 2026.

Unlike in Executive Bylaw 5756 the Property Tax Bylaw passed all three readings unanimously without any further discussion.

The purpose of Bylaw 5756 is to define the tax rates and the classes and subclasses for property taxes in 2026.

Part of the tax rates are mill rate increases which will raise property taxes by 8.08 percent and 4.53 percent for commercial properties.

Council previously voted to raise property taxes by 6.95 percent at budget time.

The difference in the final percentage increases per property class from the 6.95 is due to a tax sharing policy the City adopted in the past.

Property taxes increases are shared by commercial and residential property classes in an initiative called “tax fairness”.

“Tax fairness” is a term coined by the Canadian Federation of Independent Business (CFIB) where property taxes are equal on an assessment basis. Equally assessed properties pay the same property tax.

Critics point out the policy does not envision enhanced services enjoyed by commercial property owners to be reduced or shared with residential property owners.

For example commercial properties often receive more services like snow clearing and street sweeping than residential properties do.

The Bylaw also defines the flat taxes the City assigns to properties.