City Council has approved the 2025 tax levy at $96.5 million, which represents a 4.48% levy increase from 2024.
For an average residential home assessed at $193,000, this means a monthly increase of approximately $13.41 over last year. This includes the approved budgets from the City’s taxation fund, Agencies, Boards, and Commissions, and the provincial education levy. The increase on a median commercial property will be approximately $348 per year.
The municipal tax rate is determined by adding the required tax revenue to the current property assessments and approved budgets of the City’s Agencies, Boards, and Commissions (ABC’s). The municipal tax rate is then added to the provincial education tax rate to arrive at the final tax rate for the year. Different tax rates are applied to different classes of property, including residential, multi-residential, commercial, and industrial. In 2025, the residential tax rate will increase by 4.19%. The commercial tax rate will increase by 3.66%. Residential property taxes account for approximately 63% of the revenue collected by the City to fund operating costs for core services like garbage collection and snow removal, and capital investments like road improvements. The City’s revenue generation from municipal and education taxes will be over $96 million.
Year-over-year, effort has also been made to slow the pace of increase on property taxes. Taxes paid on the average detached bungalow in Timmins are increasing at a slower rate than in other municipalities across the province.
Agencies, Boards, and Commissions
City Council has approved the 2025 municipal share of the City’s service partner budgets, which include:
• $20.4 million for Timmins Police Service Board
• $12.5 million for Cochrane District Services Board
• $2.1 million for the Timmins Public Library
• $1.9 million for the Northeastern Public Health
• $655,500 for the Mattagami Regional Conservation Authority