How are my property taxes calculated?

In its budget, Town Council approves the amount of money required to support Town services and programs. From this amount sources of revenue other than property taxes, such as provincial grants, license fees, and user fees, are subtracted. The balance is the amount to be raised from property taxes. Then the assessed property values, as compared to other homes at the same date each year (July 1), are used to determine each property owner’s share of the total property tax revenue required.