Article content The municipal tax rate passed final reading May 10. The average property tax bill in 2021 will be $11 (0.044 per cent) lower than last year, with a decline in home values as a factor. “The amounts that we need to collect are set by our budget,” corporate services general manager Katherine Van Keimpema explained last month. We apologize, but this video has failed to load. Try refreshing your browser. Property tax rate set Back to video “In December, we determined we needed to collect just over $29 million dollars in municipal property taxes.” This year the average assessed value of a local residential property was $455,900, down from $470,100 the previous year. Given circumstances specific to each local home or neighbourhood, the bills property owners receive will likely be higher or lower than the average.