The tax collection due dates have been set for August and October of 2019.
WOODSTOCK - This year's final tax rates were recently approved by Woodstock City council.
The overall residential tax has increased by .31 percent.
Mayor Trevor Birtch says the latest increase is very responsible, which is a collection of the city, County and education taxes.
"The tax ratios are governed at the County of Oxford and we had quite a lot of discussion around the various classes, so what does an industry get charged? What does an institution get charged? What is the commercial rate? The multi-residential rate as well as residential. And where we're at tonight, we have given to the Treasurer the authorization to collect based on the 2019 totals for the city taxes, the County taxes and the education taxes. And the increase is very responsible, it is at 0.31% for a total of increase when you look at all three tax components on that bill, so much less than the current rate of inflation."
The tax collection due dates have been set for August and October of 2019.
Mayor Birtch says residents are to stay current on their installments.
"Make sure that you stay current on your installments. If you pay them monthly with your mortgage or if you're quarterly, we have a quarterly installment due at the end of the month. And starting you'll get your new notices which will have the total rate for the year that we'll be collecting in future installments in August and again in October. So tonight passing these tax rates, we also gave authorization to the Treasurer to impose late fees and interest penalties if you are behind on your taxes."
This represents an increase of $49.62 on the average home valued at $250,773.00. In comparison to 2018, the city's residential tax increased .31%, the County's rose to .37% and the education decreased to 5.29%.
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