The difference in taxation for farm properties in Centre Wellington amounts to a loss of $1.056 million per year for the municipality.
On May 25 Centre Wellington councillor Kirk McElwain asked managing director of corporate services, Wes Snarr if there had ever been calculations for the lack of taxation on farmland and managed forests in Centre Wellington.
Those changes came about as a result of provincial changes as to how tax dollars were collected.
McElwain said he understood the farm tax revenue no longer came to the municipality.
Snarr said the issue comes up from time to time.
He estimated the loss of revenue from managed forests is minimal – roughly $13,000 to $14,000.
“But in the case of the farmlands, the total taxations for the farmlands in Centre Wellington for 2015 is just under $352,000 at 25% of the residential rate,” he said.
“If it was 100% like it was prior to the 1999 tax reform … it would amount to another $1.056 million in revenues.”
