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2010 Municipal Tax Schedule
Cat. Example given Tax Rate
1 home based business $ 175
2 retail with gas 18.20 mills
3 tourism, housekeeping units, markets 4.90 mills
4 manufacturing 8.40 mills
5 contracting, equipment hire, trucking 17.50 mills
6 sawmills, auto wreckage/ salvage yard 17.50 mills
garages
7 agricultural 7.70 mills
8 processors 19.60 mills
9 other 15.40 mills
10 retail without gas 15.40 mills
11 gross revenue/no fixed place of business 5.60 mills
12 mineral workings 10.00 mills
13 commercial logging operations $ 350
Categories 2 to 12 Minimum Business Tax $ 250
Property Tax (Residential and Business) 6.00 mills
Min Residential AND Business Property Tax $ 400
Poll Tax $ 340
Utility Tax (Based on Gross Revenue) 2.5 percent
Productive Farmland Exemptions
The town will receive a list of Productive Farmland Exemptions to date. Upon receipt of the list, the affected property tax accounts will be adjusted accordingly. Contact the town office for more information.
About Your 2010 Tax Invoice
Review your tax invoices carefully. If you have any questions or note any discrepancies, please contact the office immediately.
DISCOUNT DATES: February 28th and March 15th
The town will provide a discount of 5% on 2010 Property Tax, Business Tax (excluding the Utility Tax) and Poll Tax paid or post marked by February 28, 2010.
SENIORS ONLY qualify for a $30 reduction to their 2010 Property Tax total, with the condition that proof of age (65+) is presented at the time of payment. If paid by the discount dates the senior also qualifies for the payment incentive discounts.
DUE DATE
The due date for all taxes levied by the Town of Cormack is January 1, 2010 after which date the unpaid balances are in arrears and subject to interest charges of 9.75 % annual rate to be applied monthly. A payment plan can be arranged with the town with the following stipulations:
- the plan must be in place with the town by March 31, 2010
- payments must be no less than the minimum of equal payments made over the period of the plan
- payments must be received in each of the months, failure to receive payment will result in cancellation of the payment plan
- upon final payment, and all terms and conditions being met, the interest charges accumulated against the current year’s tax account will be written off (from the start of payment plan).
EXEMPTIONS
A person whose income from all sources was less than $ 10,000 in the current tax year may be exempted from Poll Tax upon application to Council with acceptable proof of income. IMPORTANT .... under the Municipalities Act, applications must be submitted to the Town before July 1st in order to quality for an exemption.
$ $ $ $ PAYMENT PLAN...
Council provides an incentive to those who have fallen behind in payment of taxes or who will find it difficult to pay in a single payment. Payments can be made over a period of up to nine months - interest free - under specific conditions. If you wish to pay by this method you must:
1. Contact the council office before March 31st, 2010 - the clerk will record your signed commitment to pay on a regular basis.
2. payments must be no less than the minimum of equal payments made over the period of the plan
3. payments must be received in each of the months, failure to receive payment will result in cancellation of the payment plan. Plan term ends October 31, 2010.
Upon final payment, and all terms and conditions being met, the interest charges accumulated against the current year’s tax account will be adjusted accordingly.
Contact the council office for more information on this payment plan or to discuss other methods of payment.
ONLINE PAYMENTS
We are now set up for online banking. Just visit your local banking website and add us using your account number.
COLLECTIONS
$100.00 will be added to all accounts referred to the small claims process. This is a minimum since all other costs related to the process such as delivery of summons and documentation will be added as incurred.
TAX MATTERS! The town's budget is based on the collection of levied taxes in a prompt and efficient manner. When taxes are not paid the town is left to resort to collection through the various methods provided for in the Municipalities Act. As with any action taken to collect monies owed, this is unpleasant, time consuming and costly - regardless of the method used.
As unpleasant as it is, it is imperative that the town carry out its responsibility to the town's residents and property owners with consistent and firm attempts to collect arrears of taxes. It is important to remember that the majority of people conscientiously pay their taxes on time each year... Thank you!
If you have not paid your taxes to date, please make it a priority to do so. In the event that the town must use the Small Clam process, you should know that once registered with the sheriff's office, the claim becomes part of your credit history with the Credit Bureau. That information is available to creditors for seven years. Most people value their credit ration but may not be aware that failure to pay municipal taxes can negatively affect their credit ration, in other words a person might not be approved for a loan or mortgage. It should also be noted that the town will carry out garnishment of wages for property tax arrears. The town may also hold property auctions, pursuant to Section 141 of the Municipalities Act.
The support and encouragement of residents is greatly appreciated and your written comments and suggestions are always welcome. Regular Council Meetings are usually held on the second Thursday in every month. All meetings are open to the public.
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