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Taxation
For a PDF version of the Tax Rate Comparisons click hereInterim Tax Bill:
The 2011 Interim Tax Bills are due in two installments -
Interim bill amount is 50% of the previous year's taxes
March 31st and June 30th
Bills mailed - March 1st
Final Tax Bill:
The 2011 Final Tax Bills are due in two installments -
September 30th and November 30th
Bills mailed – September 1st
How your tax bill is calculated:
The province decides how much must be raised for education through property taxes.
County decides how much must be raised to pay for services provided by the County.
Tweed Council decides how much is needed to pay for local municipal services.
A series of tax rates are set for various types of property (residential, commercial, etc.)
The tax rate is applied to the assessed value of the property to calculate the final tax bill.
To calculate your taxes:
Assessed Value x Tax Rate = Total Taxes
For example, if your private home was assessed at $240,000, your tax bill would be:
$240,000 x .01265 = $3,036.00
Taxes collected by the Municipality of Tweed are distributed to three areas (figures are approximately):
· 58 percent to the Municipality of Tweed to pay for all local municipal services such as road maintenance, parks, recreation services, library, fire, planning, etc.
· 24 percent to the County of Hastings to pay for county services such as social services, emergency services, long term care, etc.
· 18 percent to the Province of Ontario, specifically for education.
The County and Province each set their own budgets, while Tweed Council sets the local municipal budget. The total requirements are combined to calculate your tax bill.
