During a rare Wednesday evening session of Carleton Place town council on June 14 – the regular Tuesday meeting had been cancelled for lack of quorum – Mayor Louis Antonakos and four councillors passed a by-law to adopt requisite estimates to establish 2017 tax rates. The meeting was also abnormally short at only 20 minutes.
Tax rates in the town are assessed based on a variety of factors based on property classes, ranging from residential, multi-residential, industrial and commercial to farmland, pipeline property, farmland awaiting development, and managed forest. The town also maintains a series of reduced rates for vacant commercial and industrial properties and units. All are calculated pursuant to provisions of the Municipal Act.
The total assessed value of real properties in Carleton Place rings in at $1,265,030,865. The amount required to meet the municipal budget levy is $9,523,259, with $155,000 levied to fund the Business Improvement Association.
Those who do not pay their taxes on time will be subject to a monthly penalty of 1.25 per cent of the unpaid taxes up until December 21 of this calendar year. If taxes continue to remain unpaid, the monthly penalty will start being applied on January 1, 2018.