The Provincial Assessment Branch presented their Impact of Reassessment 2020 report for Niverville at Tuesday’s town council meeting. The value of farmland increased the most at 15.3% with apartment properties coming in second at 9.5%.
Niverville Mayor Myron Dyck says this is right in line with what town council was expecting.
"With the demand for multifamily it makes sense to see a bit more assessed value there. Then, of course, the Ag land becomes more valuable as there is more and more pressure to find land for developing everything municipal lagoons to residential developments. There were really no surprises there."
Single-family residential properties, which are by far the most common type of property in Niverville, increased in Value by 1% and condo units increased by 0.5%. Meanwhile, commercial/industrial properties increased by 3.8% and Institutional properties were bumped 6.3%.
Dyck says it is nice to see things trending up in town.
"We are always hoping that people that have ownership whether it is residential development or whether it is commercial development or agricultural land, it is always great to see what you own grow in value. To see some of these numbers overall for the community, we know we are right on track with what we are doing."
Dyck says as far as taxes go, town council will continue to make a 2% or a Cost of Living Increase every year based on which is higher. Some peoples taxes will go up and others will go down based on individual reassessments.
Fri, Apr 19, 8:30 AM
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