Corner Brook homeowners latest to face higher taxes

The city council in Corner Brook, N.L. has lowered its residential property tax rate; however, like most other people in the province, residents of that city face higher taxes.

Councillors voted Monday night to drop the residential rate by two mils to 9.25 for the next three years.

The lowering of the rate is meant to help offset higher taxes for homeowners because property assessments went up an average of 40 per cent in the fall.

Mayor Neville Greeley said there won't be another increase for three years.

He said the council could have dropped the rate further, but it probably would have to increase it later to cover higher costs.