Assessment numbers rise in Stanley

Property tax bills.

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The R.M of Stanley boasts an assessment value increase higher than the provincial average, and for the first time in several assessments, it’s not farmland leading the way.
Oliver Prusina, District Supervisor of the Morden Assessment Branch presented a report called “The Impact of Reassessment 2020” to councillors at the June 6 council meeting.
10% increase
The R.M of Stanley taxable assessment has increased by $54 million (almost 10 per cent) to $619 million. The province’s taxable assessment has rise by seven per cent in the same time frame.
Single Family Residential was the category that led the charge at 10.7 per cent growth. Farmland follows at 9.5 per cent.
“Now you’re seeing things stabilize a little more,” Prusina said.
If council were to hold the line on tax increases in 2020, their would be some redistribution of the burden of taxation.
Commercial/Industrial, Condo/Co-op, Institutional, Pipeline and Railway would all see reductions of between 0.6 and 5.4 per cent. Single Family Residential would see a 2.7 per cent increase while farmland would come in at 1.6 per cent.
Farmland has recently seen increases by as much as 13 per cent, although Prusina said the same redistribution occurred for residential around 2008. Of the RM’s 4,238 properties, 2,629 would end up with a tax increase while 1,609 would get a tax break. Properties which have an assessment less than 9.6 per cent should see a municipal tax decrease.
R.M. of Stanley Reeve Morris Olafson said the report is good news.
“The assessment rose by $54 million and change in the R.M. of Stanley,” he said. “So that says to me that we’re growing. Our farmland values and residential values are all going up.”
Olafson said it also suggests a successful budget process.
“The increases in taxes to the individual will not be substantial,” he said, adding the increases will depend on the needs included in the budget.