More than 440 Flin Flon residents will be affected by an upcoming change in the Manitoba Education Property Tax Credit (EPTC).
The EPTC is a tax credit provided by the province of Manitoba to help cover school taxes for property owners or a portion rent for renters. Homeowners have been able to save up to $700 per year on property taxes through the EPTC.
An amendment was passed in spring 2018 that changes how the EPTC will be applied to homeowners’ property taxes beginning on Jan. 1, 2019. As of that date, the EPTC will be applied to school taxes only. It will no longer apply to municipal property taxes and the property tax minimum threshold amount of $250 will be eliminated.
“From our point of view, we just want to make it clear that it’s a provincial government initiative,” said Mayor Cal Huntley of the changes during the Sept. 18 meeting of council.
In Flin Flon, 1,472 residents currently take part in the EPTC program. Of those, 447 residents – 30 per cent of those currently registered – will no longer be able to apply the difference between their tax credit and their school taxes to their municipal property taxes.
Residents with properties assessed between $15,065 and $72,500 will be most affected by this change.
Homeowners who pay at least $700 in school taxes will not see a difference. Municipal and school taxes will not be affected.
