Professional Documents
Culture Documents
Distance from
Pit
within 0.5 km
0.5 to 1.0 km
1.0 to 1.5 km
1.5 to 2.0 km
2.0 to 3.0 km
3.0 to 5.0 km
Number of
Homes,
Farms or
Properties
20
19
31
43
99
243
Average Market
Value before Pit
Proposal
$300,000
$300,000
$300,000
$300,000
$300,000
$300,000
Ecomomic
Model
Predicted MV
Loss
-25%
-17.50%
-14%
-11%
-8%
-6%
Berkeley
Townsend Lake
65
57
$200,000
$225,000
-10%
-5%
Loss in
Neighbours
Personal
Wealth
$(1,500,000)
$(997,500)
$(1,302,000)
$(1,419,000)
$(2,376,000)
$(4,374,000)
$(1,300,000)
$(641,250)
$(13,909,750)
It Gets Worse:
It has long been recognized that there is relationship between the market value of homes and property
and the townships assessed value for tax purposes. So as the market value of the areas homes declines
we can expect to see a similar decline in the assessed value. The reduction in the assessed values would
directly feed through to the townships tax base. Unfortunately the township would end up in a position
where they might have to try to recoup the effect by further raising our property taxes. Each $1,000,000
loss in assessed value would cost the Township an additional $15,000. That money would have to come
from us, the taxpayers, in the form of higher property taxes.
Call the Chair of the Grey County Planning and Development Committee - Paul
McQueen at 519 375-1912 or email: paul.mcqueen@grey.ca. Tell them the Chatsworth
Taxpayers for a Safe and Healthy Environment have a study to support our claims2. We would be happy
to present the results to them.
1.
2.
Diane Hite, 2006. Summary Analysis: Impact of Operational Gravel Pit on House Values, Delaware County,
Ohio, Auburn University.
Doug Crocker et al, 2015. Fiscal Impact for Chatsworth Township due to the Proposed Bumstead Pit