Wednesday, 16 January 2008

Taxes likely to increase 3%

Well administration came back much quicker than expected with changes to the budget. The big news would be taxes will likely be increased by 3%. That increase will bring in an additional $195,000 in revenue. An expected 3% growth rate will add the same amount to revenue. A combination of small increases to some service fees, funding projects from other sources, deferring some projects until 09, and reducing a number of other budget items brought us to a balanced budget.
The committee of council passed a motion to bring the proposed budget to our next regular council meeting for approval. That motion passed with one dissenter. The proposed budget will not see any major changes in the services the municipality has traditionally provided. Of course we will not be setting the mill rate until April when we will find out what the province wants for school taxes. Additional changes to the budget could take place at that time or when we debate the proposed budget at our next council meeting.

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