Property owners in Williams Lake will be seeing a 10 percent decrease on their residential tax for this year.
The tax reduction comes as assessments have gone up for residents.
“The reason for the 10 percent reduction on residential tax residents is because there was such a large increase in assessments this year.” says Councillor Scott Nelson.
“If we didn’t counterbalance it with a reduction on that portfolio, specifically on the residential side, people would’ve had whopping taxes.”
Councillor Nelson also noted that Residential tax makes up most of the overall tax for the city, which is 44.1 percent.
“We recognize that there is a huge amount of increases this year. It was an anomaly, and I think we’re gonna continue to see those anomalies over the years to come.”
Councillor Nelson then said that’s the reason why they did the 10 percent tax reduction only on residentials.