Abbotsford City Hall File photo

Abbotsford residents to get slight break on 2019 tax bill

Additional revenue allows city to chop one-tenth of a per cent off of tax increase

Abbotsford property owners will pay slightly less tax in 2019 than originally thought.

The city now estimates it will receive an extra $140,000 in revenue from new growth, meaning the already approved 2.98 per cent tax increase has been revised downwards, to 2.88 per cent.

The savings will be small though. The owner of a $700,000 house will save just enough money to buy a cup of coffee: about $2.50.

The extra revenue comes from taxes on newly developed properties.

Most of this year’s increase in tax revenue will go toward paying a new employer health tax levied by the province in place of MSP premiums. That cost has thrown a “monkey wrench into most city’s budgets,” Mayor Henry Braun said Monday.

Perhaps the biggest effect on a homeowner’s tax increase will be how their assessment changed in relation to the citywide average of 11 per cent.

A home with a value that increased more than 11 per cent will be hit with a tax increase above 2.88 per cent. People with home values that increased less than 11 per cent (or dropped) will see their taxes rise less than 2.88 per cent (or even drop).

In previous years, single-family houses saw above-average home value assessment increases, leading to significantly higher tax bills for those residents. This year, apartments and townhouses saw large jumps in assessments, leaving those residents to face higher tax bills. Many single-family homeowners, meanwhile, will see below-average tax increases.

RELATED: Abbotsford council approves 3% tax hike

RELATED: Eleven people paid a $10,000-plus Abbotsford tax bill in cash last year


@ty_olsen
tolsen@abbynews.com

Like us on Facebook and follow us on Twitter.

Just Posted

Fraser Highway improvements may come with speed limit reduction

Abbotsford city staff recommend cutting speed limit to 60 km/h on four-kilometre stretch

Noted chef Ned Bell keynote speaker at Fraser Valley food symposium

Event on April 29 in Abbotsford draws together producers, chefs, restaurateurs and more

Abbotsford United Churches hold tree-planting

Public invited to event on Saturday, April 20

UFV directing class presents The Devised Theatre Showcase

Production runs April 24 to 26 at Abbotsford campus

Mom wages battle to get back four kids taken from her in Egypt

Sara Lessing of Mission has help from Abbotsford law firm

Dashcam captures close call between minivan, taxi at busy Vancouver intersection

To make the footage more nerve-wracking, a pedestrian can be seen standing at the corner

VIDEO: Fan support almost deafening as Giants take Game 2 in finals

Vancouver G-Men cap comeback with thrilling third period to beat Spokane 4-2 on home ice in Langley

Waste not: Kootenay brewery leftovers feed the local food chain

Spent grains from the Trail Beer Refinery are donated to local farmers and growers, none go to waste

Deck collapses in Langley during celebration, 35 people injured

Emergency responders rushed to the Langley home

VIDEO: Fire guts Peachland home

Crews are still on scene pumping water onto the blaze in the Okanagan neighbourhood

$6K raised in one day’s time for family of woman gunned down in Penticton

GoFundMe launched for family of Darlene Knippelberg, to pay for funeral costs and other expenses

B.C. mountain biker sent home from hospital twice, despite broken vertebrae

Released in Maple Ridge to go home with three fractured vertebrae

Seven tips to travel safely this Easter long weekend

An average of three people are killed, and hundreds more injured, each Easter long weekend in B.C.

Seattle’s 4-20 ‘protestival’ enjoys tolerance, some support – and B.C. could do the same

Seattle’s Hempfest a large-scale occasions with vendors, prominent musical acts and thousands of attendees

Most Read