Some Stratford property owners may pay more if new tax rates approved

Some property owners in Stratford, P.E.I., could be paying more taxes, including about 100 residential property owners who don't actually live in the community.

There are currently only two tax rates in the community ofabout 10,000 people: commercial and non-commercial. Buta new bylaw amendment that would create severalmore tax rate groupshas already had its first reading at town council.

"It's a way for us to get additional tax revenue, should council decide that's what they wish to do,"saidGail MacDonald, chair of the finance committee and councillor in Ward 1.

The new rates haven't yet been set.

MacDonald said the tax rates willbe determinedthrough pre-budget consultations, feedback from the public, and a review of what other municipalities are charging including Charlottetown and Summerside.

The proposed new tax rate groups would include:

• non-commercial non-resident.
• hotel/motel non-resident.
• hotel/motel resident.
• apartments (fouror more units) resident.
• apartments (fouror more units) non-resident.

'Catching up'

"We looked at several other communities on the island and found that several of them have different tax rate groups that we didn't have," MacDonald said.

She said she expects the final reading of the bylaw amendment will likely happen at the November council meeting.

"I think basically we're just catching up to the other communities and we'll see how it results in, perhaps, additional revenue for the town," she said.

If passed, she said the next step would be to seek the provincial government's approval.

The changes couldbe phased in over one to three years, MacDonald said.

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