The City of Yellowknife is considering changing how the property tax burden is divided among different types of owners and wants residents’ input.
Property taxes account for around 40 percent of the revenue that funds municipal services. How much property tax residents pay each year is based on the assessed value and use of their property.
The tax distribution in Yellowknife has remained relatively consistent over the past two decades.
The city now says it wants help determining if the existing distribution is still relevant or if changes need to be made. A video briefing on the issue is available.
City councillors last discussed how the property tax burden is divided in April 2021. That included weighing the benefits of reducing taxes for commercial or residential property owners.
An open house will take place at City Hall on March 29 from 5:30pm to 7:30pm. The city is accepting written submissions up to 5pm on April 8.