The town is relying upon its supplementary assessment to reach the four per cent growth target used for the 2019 municipal budget.

A report presented to council tonight, Jan. 14, by Gail Butz, the town’s assessment and taxation manager, currently pegs the town’s growth at 3.52 per cent, but indicates a supplementary assessment is expected to make up the difference.

The town derives about 89 per cent of its assessment income from residential properties when you exclude development in its Community Revitalization Levy (CRL) district. Otherwise, it would be closer to an 87-13 per cent split.

Overall, the assessment of single dwelling residential properties rose 0.13 per cent and the average assessment is $479,00. There was a 0.63 per cent increase in the assessment of duplexes/townhomes to an average of $348,800 and condominiums slid 1.23 per cent to $264,200 from $267,500.

Assessments shift annually and this year saw downtown single dwelling properties rise by 3.20 per cent, followed The Willows (2.83 per cent) and Riversong (2.08 per cent) properties.

On the other side of the coin, Bow Meadows properties dropped 3.18 per cent in their assessed value. West Pointe (-1.28 per cent), Bow Ridge (-1.19%), Gleneagles (-1.10%) and Heartland (-1.0 per cent) assessments also dropped.

Property assessment notices are scheduled to be mailed on Jan. 21. Those questioning their assessment can contact the town's assessment department. They have 60 days from the issuing of the assessment notice to file an appeal.

Property taxes are based upon assessed values of properties. Tax notices will be issued in May.

The tax bill a resident receive doesn't just include municipal taxes; it also includes school taxes. Councillor Marni Fedeyko asked if there had been any progress in making this clearer on tax notices and basically the answer was not yet. She said the current format is confusing for some and she has received questions from ratepayers in the past when they receive their tax notices.

Funds raised from the CRL zone, encompassing 57 acres in the downtown district (largely The Quarry commercial district), is used for town projects on public land within the zone.

Current projects being funded by this taxation include the Centre Ave. railway crossing, sidewalks on Railway St. and landscaping in the Centre Ave. commercial area.