The town of Bancroft could be on the hook for tens of thousands more in property reassessments.
Last month, the town found out it would have to pay back $100,000 to Canadian Tire Corporation because the chain store had successfully had its tax assessments lowered. Now Loblaws, the parent company of Shoppers Drug Mart and No Frills, along with Sobeys, the parent company of Foodland, are following suit.
CAO Hazel Lambe says it’s still unclear how much money this could cost the town. Lambe says the town already has around $150,000 set aside for the reassessments.