City of WL explains relationship between 2011 Assessment & 2011 Budget

From the City of Williams Lake:

As they receive their 2011 assessment notices this week, the City of

Williams Lake would like to remind Williams Lake property owners that an
increased assessment does not mean an automatic rise in City property taxes.


According to BC Assessment, the City of Williams Lake’s assessment roll
rose 3.36 per cent, from $1.19 billion to 1.23 billion, and most homeowners in
Williams Lake will see property value changes from -5 per cent to 15 per cent.



Because the City of Williams Lake, like all municipal governments, sets its
residential mill rate based on budget needs, an increase in property values does not
necessarily mean a rise in the mill rate.


“The mill rates for residential, commercial, and industrial properties will be
set this spring as the City goes through the process of completing the 2011 budget
and five-year financial plan,” says Acting Director of Finance Pat Higgins.


“Increased property values are just one factor among many that determine how
much a property owner will pay in taxes.”


“The City believes competitive tax rates help foster a positive environment
for economic development and growth, and that will play a large role in our
upcoming budget discussions,” says Councillor Tom Barr, chair of the General
Governance Committee, which has oversight of budgets and long-term financial
planning.