Published June 29, 2016
BY JENNIFER THURBIDE
Municipal officials say they are continuing to work with the Municipal Property Assessment Corporation (MPAC) after preliminary figures on a couple of industrial properties in the district showed a multi-million dollar difference.
Updating municipal leaders at the Committee of the Whole meeting on June 13, CAO Mark Vermette said as of June 8 the difference between 2016 assessment and proposed 2017 assessment is a reduction of $19 million for three properties.
“That’s concerning because industry is going down in assessment and residential is going up. We need to find that balance and it is quite concerning,” said Vermette, who noted staff had been working with Municipal Tax Equity to obtain more information.
“We still don’t know how they got that, and what at the end of the day, the impact is to the Municipality of Red Lake.”
Meetings are ongoing with MPAC at various levels in an effort to work together on strategies moving forward “so there is no surprise” said the CAO.
Deputy Mayor Sandy Middleton notes the Municipality is directing their efforts toward MPAC and not the impacted local business.
“Our fight is not with industry, our fight is with MPAC. WE don’t have all the information.”
Figures provided to the Municipality are preliminary, as assessments will not be formalized until later this summer.