Maple Ridge residents will save a few pennies this July thanks to some last-minute decisions at city hall.
In January, the total residential property tax increase for 2018 was forecast at 3.5 per cent. That had been trimmed from a previous increase of 3.6 per cent late last year, which would have seen homeowners pay about another $108 per year for a standard house.
But the 3.5-per-cent increase has since been shaved down to an overall increase of 2.98 per cent, according to a bylaw at council’s April 24 meeting.
A major part of that has been paring down the increase for general municipal purposes from 1.9 per cent, to 1.5 per cent.
The lower increase is possible because of higher-than-projected gaming revenues from Chances Maple Ridge, a reduction in parks and rec spending and increased investment income.
“We’ve been doing a lot of work on this. What you see there will be the lowest increase in a long time and will compare very favourably with others throughout the region,” said chief administrator Paul Gill.
For 2019, the overall residential property increase is pegged at 3.5 per cent. But that could have been lower had the city not had to pay the new employer health tax, created by the provincial government to replace Medical Service Plan premiums. The changes will cost the city another $1 million a year, beginning in 2019.
The new NDP government is phasing out MSP premiums and imposing payroll taxes on larger businesses to recover some of the revenue. The employer health tax will come into effect on Jan. 1, 2019 for business with annual payrolls over $500,000.
The numbers are part of final changes to the financial plan before tax notices are sent out.
Other recent changes to the plan include the city’s $500,000 contribution to the new Youth Wellness Centre, about another $19,000 to increase voting opportunities during the Oct. 20 civic election and extra funding for the new artificial fields and renovations to the Maple Ridge Leisure Centre, currently undergoing a $9-million refit.