Belleville Council will vote on a measure that will provide some financial relief for the new YMCA Centre for Life being built in the city’s west end.
Council will be asked to waive property taxes for the project, effective for the 2027 taxation year.
The proposed property tax waiver will result in an annual reduction of property tax revenue of approximately $300,000. This shortfall will be budgeted in the municipal grants portion of the budget with an annual impact estimated at a 0.20% tax impact.
The YMCA does not pay taxes in relation to the Quinte West site as this a Municipally Owned facility managed by the YMCA, whereas the Peterborough facility is a Municipal Capital Facility which again has the YMCA not paying taxes.
Council meets at Belleville City Hall at 4 pm.
