Perth County adopts 2022 tax ratios

·1 min read

PERTH COUNTY – On May 19 Perth County council unanimously voted to adopt the 2022 tax ratios.

Corey Bridges, Manager of Finance/ Treasurer, gave an extensive report on the county’s tax policy history on May 5. After discussion, staff brought back a report with their proposed ratios. As Bridges said, the 2022 ratios are “essentially utilizing the ratios of 2021.”

The new change for this year regards the adoption of new subclasses, the small scale on-farm business. The first subclass is applied to an assessment under $50,000 and was adopted in 2019. Since then, the province has allowed an increase and an update within the by law is required. The newly proposed second subclass “allow(s) municipalities to increase the threshold of eligible assessment to which the reduced tax rate applies from $50,000 to $100,000.” Both subclasses were “created to provide a tax rate that is 75 per cent lower than the existing commercial and industrial tax rates.”

An example of a business under this designation would be a building that would have patrons coming to buy products – like an egg stand.

Currently only two properties are impacted in the county. The report notes that both will benefit from these subclasses.

Connor Luczka, Local Journalism Initiative Reporter, Listowel Banner

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting