The Canadian Champion, Tuesday, Apntl 24, 2001-3 Gool newsÇ," hnca frli ww cornes with real estate risc By ANGELA BLACKBURN Special to The Champion Rising house values may be good news for home- owners, but could prove a headache at tax time. Halton Region is analyzing revised market values, 10 sce what they'll do 10 local lax bills under Current Value Assessment (CVA) and how to soflen the blow. Regional counicillors held an information meeting carlier Ibis month when heaird that HalIon's residenlial market values have gone up by an average of 16 per cent. Multi-residences, mostly in Burlington. have jumped the most in vialue - by 25.6 per cent. Under the CVA property tax sys- temr, property taxes are calculated j by multiplying market value by local tax rates (municipal, regional and education rates). The comhined local tax rates set AMI l9-29,2001. Most items weili- abla e n est stores. S Lot*I for lte ned sal@ les.ale pilcs appy ta lntitk flaClndlse oily. Sonry, no spaclel aidais. earlier Ibis year will add $78.94 on the average homeowner's tas bill. However, it now appears that higher proîîerty values will increase the other part cil the CVA equatitîn. The Region must now decide on mitigation policies 10 protect homeutwners, seniors, disabled homeowners. chanities, and multi- residences. Those policies will go 10 region- al counicil for approval tomorrow to meet a provincial deadtine of April 30. The public eau access the Region's proposais and have a say ai tomorrow's council meeting. The information is on the Region's wehsite aI www.region.halton.on.ca. Copies of the report are also be available aI regional headquaeters located ai il151 Bronte Rd. Stand warned, CVA is complex. -This was the most cctnvoluted presentalion I've ever seen." said 0 House values increasing but the tax man will be the big winner 3jrd Birthduy SALE!1 rou'II stwe in every department! * -ia s e*ur FEEC TeD JACQARD * --ia S e in * * -eL -a e--IN eAUDYSIZES M u.flieSo,..ock Home Dec! Special Se1ecýiunI 'Boutique' JACQUARDS & DOBBIES illOcr3iO-jrFipl 1.9801 NOW 6.99 m Specýa1 Selection' "Dakota' UPHOLSTERY ENDS Our Regý 10.98 m NOW 4.99 m Special Seiection' TASSEL & TIEDACK EXTRAVAGANZA! Individuallypricec. Now 50% Off Sugg. Relail Price Entre Sý(.,ck! FISKARS SCISSORS rýriced Now 20% Off OLjýri,_,jjàrPrice 1 547 Main St, Es MILTON 878@0931 Ward 1 Councillor Kevin Flynn. at the information meeting, noting he meant no olfence to presenter. act- ing CEO Dave Birkett. In 1998. the Province moved to CVA, which mandated regular updates and set ruies for municipal fax policies. While Mr. Birkett said the Region wants 10 -move to full CVA as quickly as possible." it will stili find ways 10 offset some of the larger increases in the near future. Regional staff favour continuing a residential phase-in program - but for a shorter period, one or two years instead of the previous three. Homeowners who may enjoy a 16 per cent increase in the market value of their home, may rue the increase when faced with multiply- ing il against the local tax rate 10 achieve their final tax billing. That's where the Region wil step in with relief for the worst- case scenanos. Homeownera would pay only the iraI 15 per cent or $300 (whichev- er comes l'irsI) increase on their overaîl tax bill and the Region see COUNCILLORS page 22 2001 PONTIAC - SNFURE 4DR 60 montbs tinancing e 2.2 L, 24 Engine -4 speed auto trans. e A/C - e Power locks * CD Player 0 for $251 Keyless Remote e Tilt Steering CASH PRItE $18,S$~ 2001 PONTIAC MONTANA VAN ~ 9 60 months tinancing e*Reg. Length W.6Be3.4L1V6 oi e Power windows Si Iocks @i 0 7 Pass. seating e AMIFM & CD CASH PRIC -m e Deep tinted glass $25,2 eDual air bags à 2001 BUICK , t inancing e.11L V6 eAuto eAir e Air bags * ABS brakes ; Keyless remote * ower windows e Tilt ePower Locks &i mirrors Cruise e AMIFM Cass. M. uyàV or Lease recslve a set @$ Cobra CXIl Irons Luu mnSir.440kSt 6MAO t l's,d500 ,u P scillive on BeNsics! Decial Selection' Our Entire Stock 0' ELET 115cnri CRAFT & QUILTIN G olye,,,tpr,/cc)tton. FABRICS -iitc and ivory. Our 100 ý cciton & blends oci. T98-1 Oý98 m 1 Individually priceld. w cil 4.99 m Now 40% Off 1 STRETCH TROPICAL SUITING 1,50crii Ullir Hc(i 7 98ni NOW 3.49 m Better thon Huif Price! S;)Pcial Se1ecýion1. IVALARE' LINEN/COTTON COLLECTION j,'ý? - 11 ocrn 0or Rcg 10 98-14 98 Il, Now 6.99-10.99 m special selectIon, POLYESTER PRINTS & SOLIDS 11 5CM V,!deý Ob' Req. 10 98-12ý98 ni NOW 3.99-4.99 m