The mayor of Terrace Bay has resigned, citing what he calls "irreconcilable differences" with councillors over a potential reassessment of the town's pulp mill. Michael King is upset that Council has opted to negotiate a settlement with the owner of the mill. AV Terrace Bay has decided to file for a reassessment of its municipal tax rate with the Municipal Property Assessment Corporation. King says he would rather see council fight the company's application. In a statement, the township's four councillors predicted the review will likely result in a drastically reduced tax rate for the mill, since recent applications from similar operations in Dryden and Espanola have led to decreases in excess of 65 per cent.
