Newmarket considering 2.99% property tax hike

Town says its 'doing everything possible to try to mitigate the financial impacts of COVID-19'

Newmarkettoday.ca
October 19, 2020

Newmarket homeowners should prepare themselves for an increase of almost 3 per cent on next year’s town portion of the property tax bill.

A draft budget, which has not yet been approved, calls for a 2.99 per cent tax increase, according to the town.

That works out to an additional $64.79 for the average home assessed at $700,000.

That is just the town’s portion of the property tax bill and doesn’t include the regional and education amounts.

“Each year the Town of Newmarket undertakes a detailed budget planning process to ensure we are meeting the needs of our community now and in the future. This includes valuable input from the community which helps guide the strategic priorities of council,” the town said on its website.

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“This year, the global pandemic has had a significant impact on our community. The town is doing everything possible to try to mitigate the financial impacts of COVID-19.”

Council has authorized the draft budget for public consultation, with a final budget scheduled to be approved in December after public consultation.

Learn more about how you can get involved by visiting newmarket.ca/2021budget.