Residential assessment decreases in North Bay

City Council got a look at the tax assessment picture from 2012 to 2016 last night.

On the residential side, assessments decreased by 2.7 % overall.

Steve McArthur, Account Manager with the Municipal Property Assessment Corporation, says there were positives on the commercial and industrial side.

He says commercial has seen a slight increase, thanks to the McKeown Avenue development.

As for industrial, McArthur says it’s holding it’s own thanks to a priority from Council on keeping tax rates low.

“They continue to be one of the lowest in the province.  The commercial growth is very positive, the industrial has been steady,” he says.

In terms of the residential figures, Mayor Al McDonald isn’t concerned.

“We saw property values go up quite a bit in the last 10 years and I think it just levelled off.  I’m not concerned about it, just watching the trend,” he says

The residential class accounts for 70 per cent of the total assessment.