Official approval regarding the change of the mill rate ratio (going from 1:2.26 to 1:2.13) occurred at the May 24 City Council meeting.

Following this change, residential property owners (during tax season) will see a 9 per cent property tax increase.

Specifically, residential property owners will see a 9.04 increase, while commercial owners will see a increase of 2.27 per cent.

The change comes as a result of conversations initially brought forward by the Yellowknife Chamber of Commerce, where Council was asked to maintain the mill rat ratios so as to not continue the gap between residential and commercial property owners in terms of taxation.

SA国际影视传媒淲e urge council to make changes now, whether through a motion of council or a formal budget policy to maintain mill rate ratios fixed at the previous yearSA国际影视传媒檚 levels,SA国际影视传媒� read the chamberSA国际影视传媒檚 notice back in April.

SA国际影视传媒淲e just want it to be fair,SA国际影视传媒� Warburton said during his presentation.

Before approval occurred, councillor Niels Konge (who was in favour of the change) brought attention to how the extra tax payment for owners of properties assessed at around $500,000 would be 10 dollars, while owners of commercial properties assessed at the same amount would instead safe $145.

Councillor Julian Morse, who was not in favour, attempted to amend the bylawSA国际影视传媒檚 ratio, stating that SA国际影视传媒渢he 9 per cent is what ISA国际影视传媒檓 trying to prevent.SA国际影视传媒�

SA国际影视传媒淭o change the ratio this year SA国际影视传媒� would create this sudden and unexpected leap for residential tax payers to 9 per cent which is far more than people expect,SA国际影视传媒� added councillor Shauna Morgan, who was also not in favour.

The lead up

During CouncilSA国际影视传媒檚 meeting on May 9, approval of the motion to decrease the mill rate ratio was quite narrow with four to three in favour.

As noted by mayor Rebecca Alty at the previous gathering, a ratio change would result in a wider rate gap between residential and commercial property owners.

SA国际影视传媒淎s administration showed us at lunch today, in 2020, residential taxes went up 1.7 per cent,SA国际影视传媒� she said at the May 9 meeting. SA国际影视传媒淲hereas commercial taxes went up (1.58 per cent). 2021 was the same thing. Residential taxes went up 2.6 per cent and commercial taxes went up just a bit less at 2.54 per cent.SA国际影视传媒�

SA国际影视传媒淭his year, ISA国际影视传媒檓 not supportive of having residential taxes go up 9 per cent (and) commercial taxes going up 2.7 per cent,SA国际影视传媒� she continued. SA国际影视传媒淔inancially, I appreciate this will be a tough year for many, whether itSA国际影视传媒檚 the residence or business. Which is why I donSA国际影视传媒檛 want to shift the burden from one class to another. I want to keep the mill rate ratio the same as itSA国际影视传媒檚 been for the past year.SA国际影视传媒�

Through the Yellowknife Chamber of CommerceSA国际影视传媒檚 presentation, which was conducted by president Robert Warburton, the end goal of the chamber was to have the city maintain the ratio and to set clear policies regarding mill rates.

There was no mention of a need to decrease the mill rate ratio.

Warburton, in a previous discussion with the Yellowknifer, had mixed feelings about councilSA国际影视传媒檚 approval of the motion to decrease the ratio.

SA国际影视传媒淚tSA国际影视传媒檚 nice to see,SA国际影视传媒� he said. SA国际影视传媒淏ut the policies would have been nice, because that was what we actually asked for.SA国际影视传媒�

SA国际影视传媒淲hat weSA国际影视传媒檙e asking for resonated, it just landed differently than we anticipated.SA国际影视传媒�

RELATED REPORTING: YK Chamber wants city to hold the line on tax increases for businesses

SA国际影视传媒淲e had asked for the city to set clear policies and processes for setting the rates and how those are done because, historically, thatSA国际影视传媒檚 been kind of left to administration to interpret,SA国际影视传媒� he said. SA国际影视传媒淭heySA国际影视传媒檝e done it in a way that itSA国际影视传媒檚 disadvantaged business consistently over the years.SA国际影视传媒�

The City has said that the next council would be the one to decide the aforementioned policies at the next general assessment.

SA国际影视传媒淲hich means weSA国际影视传媒檙e going to have to have the conversation again, (at) the next general assessment,SA国际影视传媒� Warburton said. SA国际影视传媒淲hich is a little unfortunate.SA国际影视传媒�