Understanding mill rates and taxation
Did you know that the vast majority of the City’s revenue comes from property tax?
The City of St. John’s has a few different revenue streams, but most of our revenue comes from water and property tax - 64% in fact. The remaining 36% of our budget comes from user fees for programs and services (like the cost of swimming lessons or renting a facility), permits, fines, and government grants and subsidies.
How is your tax bill calculated?
Although taxation affects us all differently, all property tax is calculated using the same method. To determine your tax bill, we multiply the assessed value of your property by the mill rate and add the water tax. Read the full article here.
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