Question 1

What is the property tax rate in Cockburn Island?

Accepted Answer

The residential property tax rate in Cockburn Island is 1.35%. For an average home assessed by MPAC at $245,000, the estimated annual municipal property tax bill is approximately $3,308 per year. This revenue funds local frontline municipal services including emergency protective services, road infrastructure, public transit, and community recreation.

Question 2

How much does Cockburn Island spend per resident on municipal services?

Accepted Answer

Cockburn Island spends approximately $241,082 per resident annually across all municipal departments, based on an audited annual municipal operating expenditure of $482K serving a population of 2. Key expenditures include protective emergency services (police, fire, paramedics), transportation and roadways, environmental water and waste management, and parks and recreation.

Question 3

What is the financial health and debt score of Cockburn Island?

Accepted Answer

Cockburn Island holds an audited Fiscal Health Grade of B (Score: 80/100). The municipality carries approximately $141,081 in accumulated debt per resident compared to $102,015 in capital reserves, maintaining an Annual Repayment Limit (ARL) debt-servicing ratio of 18.6%, comfortably within Ontario's 25% provincial statutory ceiling.

Question 4

Where does the municipal data and financial benchmarks for Cockburn Island come from?

Accepted Answer

All financial intelligence for Cockburn Island is compiled directly from official, audited Financial Information Returns (FIR Schedules 10, 40, 60, and 74) submitted annually to the Ontario Ministry of Municipal Affairs and Housing (MMAH), verified against Bank of Canada Consumer Price Index (CPI) benchmarks.

Cockburn Island Municipal Financial Hub & Civic Vitals