Castlegar home owners will pay $2.8132 dollars per $1000 of assessed value property taxes for 2022. Photo: Betsy Kline

Castlegar home owners will pay $2.8132 dollars per $1000 of assessed value property taxes for 2022. Photo: Betsy Kline

City of Castlegar sets property tax rates for 2022

Castlegar city council passed the first three readings of the 2022 property tax rate bylaw this week, setting tax rates for upcoming property tax bills.

Residential rates for the City of Castlegar portion of property taxes will be $2.8132 per $1000 of assessed value (known as the mill rate). So the amount for a home assessed at $300,000 will be $844, a $400,000 home will be $1,125 and a $500,000 home will see $1406.

It is important to remember that the city also collects taxes on behalf of other jurisdictions such as the regional district and hospital and school levys. Those rates are not set by the city. An individual’s total property tax bill will include both the city portion and all other levys.

RELATED: City of Castlegar makes changes to property tax pre-payment plan

Homeowners can apply for a provincial home owner grant to reduce the amount of taxes owed on their principal residence. The basic grant is $770 for those who qualify for the full amount. Go to gov.bc.ca/homeownergrant for more information.

Other 2022 mill rates set for the city include 40 for utilities, 44.3031 for major industry, 11.3686 for light industry, 11.6713 for business, 3.8718 for recreation/non-profit.

Tax rates increased by 5.66 per cent for residential properties, 5.75 per cent for light industry and business and 6.22 per cent for major industry compared to 2021 rates.

The total tax roll for the City of Castlegar is $1,660,840,306.

The city’s total tax levy is $9,455,345. About 41 per cent of the levy will come from residential tax payers while 29 per cent will come from major industry and 25 per cent from businesses.

A special council meeting will be held on May 9 in order to adopt the tax bylaw before the legislated deadline.



betsy.kline@castlegarnews.com

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