City Council sets municipal mill rate

Merritt City Council has set a preliminary mill rate for the 2021 tax season.

During a lengthy budget presentation on Friday, the council agreed with the recommendation from city staff to institute a 5.3% mill rate decrease.

Individual tax bills may still see an increase in 2021 due to the increased assessed value of homes.

“The average house went up 9%. What that basically means is that if your house went up 9%, which is exactly the average, the residential tax increase will be 3.7% for you. If your house went above or below that you can kind of do the math on that,” said Deputy Finance Director Sean Strang.

The rate will still need to be formally adopted with the budget.