Latest update March 28th, 2024 12:59 AM
Aug 19, 2018 News
With support from central government and the aid of a Canadian company, the Mayor and City Council of Georgetown (M&CC) will undertake an exercise to re-evaluate properties around the city.
For more than 20 years, the Council, which is tasked with managing the day to day affairs of the city, has been unable to evaluate properties located in Georgetown.
Town Clerk of the Georgetown M&CC, Royston King told media operatives last week, that a new evaluation of building and properties located in the city is integral to helping the council calculate and collect the right amount of taxes from each property owner.
King noted that the initiative will significantly assist the Council with its financial struggles.
King told media operatives the council just wrapped up a meeting with representatives from the Canadian company which is expected to undertake the project within the next few months.
This project was initiated in 2017 by Minister of Communities Ronald Bulkan after it was observed that properties in the city had not been evaluated in over two decades.
The Minister of Communities noted that the purpose is to essentially assist the municipalities to garner more finances so as to allow a ‘weaning’ of them off the government’s support.
“Not only have I been pursuing a very vigorous agenda to ensure that the legislative authority and autonomy is respected, but critically, that (municipalities) financial independence is secure,” Bulkan said. The Minister noted that for this reason, efforts have been made to seek Cabinet’s approval for the reform of the valuation system, “which would re-value properties to be able to provide realistic values which have not been done for over two decades; which will `wean’ them off of central government’s subventions and allow them to exercise greater autonomy.”
“This must not be seen as an exercise in taxation, but merely to provide accurate property values to councils countrywide, for the use and determination of individual councils as to what rates they would want to effect. That will be a determination that will be made individually and independently by the respective councils,” Bulkan informed.
The valuation exercise will require at least 12 to 18 months and the government has engaged a Canadian institution, the Municipal Property Assessment Corporation (MPAC), which does property evaluations for the state of Ontario and other jurisdictions in Canada and internationally.
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