The council of the Rural Municipality of Estevan has approved a 17 per cent reduction (from 1.00 to 0.83) in its mill rate factor, applicable to all commercial properties within the RM for 2020, the municipality said in a news release issued Friday.
This will mean a decrease of approximately $500,000 in cumulative taxes payable by commercial properties this year.
The RM said this one-time tax relief is provided as direct assistance to the RM鈥檚 commercial ratepayers in response to the sharp downturn in the local economy, exacerbated by further challenges brought about by the restrictions implemented due to COVID-19.聽
鈥淭he RM has maintained its commitment to fiscal responsibility by also ensuring a balanced budget for 2020 with no tax increases for either agricultural or residential properties,鈥� the news release stated.
