News Update: CTV News – March 27th

Clinton Wilkins notes that rising property assessments may strain homeowners.

Vanessa Wright
After hours of debate, Halifax council has decided to keep the property tax rate steady for homeowners, with the new rate sitting at 4.7%.

Andy Fillmore
The council came together positively to make sure that affordability is being taken care of in HRM. So we were able to hold the tax rate flat. The 4.7%.

Vanessa Wright
The rate works out to an extra $117 on the average residential bill, as opposed to $214 in 2024. Fillmore says it will work to address affordability concerns.

Andy Fillmore
We’re in a moment of economic uncertainty, and people are feeling that around their kitchen tables. They’re feeling it in their businesses.

Vanessa Wright
Back in in February, the council proposed a 7.6 tax hike that would help cover nearly $70 million in budget spending. They were able to get it down to 4.7% after making budget cuts elsewhere in households.

Andy Fillmore
Businesses are having to tighten their belt a little bit, and that’s why HRM needed to do the same.

Clinton Wilkins
I think any decrease is going to be good news for Canadians.

Vanessa Wright
Halifax-based mortgage agent, Clinton Wilkins, says rising property assessments will make it hard for homeowners to stay above water.

Clinton Wilkins
I think the municipalities are benefiting from higher assessments, and I still do believe that the assessments in many areas across the province and all across Atlantic Canada are below what the actual true market value is, and I expect homeowners will see assessments continue to increase.

Vanessa Wright
Fillmore maintains it’s a positive step in the right direction.

Andy Fillmore
Keeping the tax rate flat will help to keep life affordable, and Halifax, even in the face of the tariffs and other economic uncertainty. So this is the part that we can do here, and I’m really glad that we got a success.

Vanessa Wright
And Fillmore says there’s still work to do to keep the budget tight and find efficiencies in it, as for right now, he sees this as a win for residents, and no doubt for him politically, in his words, promise made, promise kept. We’ll see how that plays out with property owners. Bruce.

Bruce Frisko
Good point. All right, thank you, Vanessa. CTV’s Vanessa Wright reporting live tonight from City Hall.