Magog property taxes rise significantly

The City of Magog is increasing its residential property taxes by 3.8 per cent in its 2018 budget, the largest increase in more than six years.

According to Finance Committee Chair, Nathalie Bélanger, this increase will affect the residential sector that is served by municipal water and sewer services. For a property with an average value of $256,000, the tax bill will go up $93 over last year to $2,511,

The impact will be slightly less for owners in the non-urban sector, who will see an increase of 3.4 per cent, or $74, for a similarly-priced house.

Mayor Vicki-may Hamm says an increase was predictable mainly because of the costs associated with the reorganization of the fire department. That, alone, represents a cost increase of $1.5 million per year. The cost of snow removal, which has risen by $452,500, is also a major factor.

To help alleviate pressures, the Municipality requested a streamlining effort for all of its departments that led to savings of $450,000. A similar exercise was done about two or three years ago that cut another half a million dollars. On the other hand, municipal revenues are expected to increase by $2.4 million next year.

The mayor also explained that the increase has nothing to do with the major projects planned for Magog, such as the revitalization of the downtown area and the Omerville purification plant. She also points out that subsidies should reduce the burden on taxpayers.

Tax new tax rates by building category per $100 of assessment have been set at 0.763 cents for a residential property of fewer than five units, 0.814 cents for those of six and more, 2.172 cents for commercial buildings, and 2.719 cents for industrial buildings. Vacant lots with services will be taxed at 1.383 cents per $100 evaluation and farm buildings at 0.758 cents.