Anybody dumb this down for me. Am I understanding significantly higher property taxes?
Beginning in 2016-17, the education property tax requisition will be determined on a yearly basis, as was done prior to 2013-14.
Since the government assumed responsibility for education property tax in 1994, the province's share of property tax collected has fallen from 51% to 26%.
Other rate changes:
residential/farmland will decrease to $2.50 per $1000 of equalized assessment
non-residential will decrease to $3.67 per $1000 of equalized assessment
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