FINANCIAL INFORMATION

The Ontario government introduced a system of assessment by which every property is assessed and taxed on the basis of its actual current market value (AVA) which will be updated annually. The effect of this change is that the owners' properties, which have been under valued, will experience an increase in their taxes relative to other properties in the same class (i.e. residential, commercial, industrial…). Those whose properties were previously overvalued will experience a relative reduction.

The rate at which properties are taxed is no longer expressed as a mill rate. It is now called a tax rate which is a percentage of the assessed value expressed to six decimal places.

Below is a schedule of the 2005 tax rates for the various classes of properties in the Municipality of Shuniah .

Question regarding the rates of taxation may be directed to the Municipality Office.