Malahide gives nod to 5% tax levy increase
Malahide councillors, sitting as finance committee, on Friday, March 21, recommended that, as a council, they adopt a proposed $11.65-million 2014 budget that would increase the township’s property tax levy by five percent.
The levy collected by the township would increase by $275,000, from $6.3-million last year to $6.6-million in 2014.
Financial Services Director Suzanna Dieleman said a house assessed at $250,000 last year would this year, at an average 5.11 percent assessment value increase, be worth $262,775. That meant that the $1,831 paid in property tax to the township last year would increase to $1,906 this year, a change of $75 or 4.09 percent.
A public hearing must still be held by council on the proposed budget.