If you own a home in Halifax, you may notice an increase in your property tax bill, but some say that’s good news compared to where it could’ve been.
After a long debate on Wednesday, Halifax councillors decided to keep the property tax rate steady at 4.7 per cent.
“The council came together in a really positive way to make sure that affordability is being taken care of in HRM. So, we were able to hold the tax rate flat, which people may remember was a key campaign promise during my election campaign,” Halifax Mayor Andy Fillmore told CTV News on Thursday.
The 4.7 per cent rate works out to an extra $117 on the average residential bill, compared to $214 in 2024.
Back in February, Halifax council proposed a 7.6 tax hike that would help cover nearly $70 million in budget spending.
Councillors were able to get it down to 4.7 per cent, after making budget cuts in other places.
Fillmore says it’s a positive stride for homeowners in the city, amid affordability concerns.
“We’re in a moment of economic uncertainty and people are feeling that around their kitchen tables, they are feeling it in their businesses,” says Fillmore. “Households and businesses are having to tighten their belts a little bit. That’s why it was really important HRM do the same.”
Halifax-based mortgage agent Clinton Wilkins says the move is good news for clients, especially those worried about high interest rates.
“Certainly, existing homeowners, I think, are feeling the squeeze the most,” says Wilkins.
But he says rising property assessments will still make it hard for homeowners to stay above water.
“I think the municipalities are benefiting from higher assessments. And I still do believe that the investments in many areas across the province, and really all across Atlantic Canada, are below what the actual true market value is. I expect homeowners will see assessments continue to increase,” says Wilkins.
Still, Fillmore says this is a good step in the right direction.
“I would never make a campaign promise that I don’t intend to follow through on, so, promise made, promise kept,” says Fillmore.
“We have some more work to find efficiencies and savings in our budget, in our operations as a municipality moving forward, to make sure that we can continue to keep life affordable for residents here in HRM.”
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