The target for the tax increase was 1.9% but it looked like it was going to be 2.7% because of a couple of last minute additions. The biggest addition of $105K was because Brian Darling wanted higher wages for the Town’s non-union employees and he won support for that (see links below) but there were also other items for a total of $200K more than the target. But after Deputy mayor Suzanne Séguin discussed this with Treasurer Ian Davey, it was decided that there were enough funds in the Holdco reserve to allocate another $200K to the 2020 budget. This means that, in the end, the target for an increase of taxes of 1.9% has been met.
To help explain the budget, an infographic has been prepared summarizing its complexities – below are extracts from that or if you prefer, download the complete document from the links below.
These were summarized here but the Town provided an even shorter summary of significant projects.
The biggest is the Kerr Street extension – the request for tender has already been issued with 4 bids received.
Year to year comparison
The table shows what’s happened since 2016 – the actual tax increase has stayed less than 2% despite inflation.
If you multiply the “Lower-Tier Tax Rate” by your MPAC valuation you get the amount of Tax the Town will charge you per year. The total bill will also include the as yet undecided County and School Board amounts.
Council approved the budget as described here with no further debate.
Links and Notes
- Pay Review proposed for Town’s non-union employees – 28 December 2019
- 2020 Financial Plan Highlights (Infographic – pdf)
Note 1: The 1.9% increase in the tax levy means that IF (a big if) your MPAC valuation increased by the average amount for the Town (2.1%), then the Town’s portion of your tax bill will be 1.9% higher than last year. The additional 1% of revenue comes from the fact that there are more properties being taxed.
Note 2: Also passed at the Council meeting was a By-Law authorizing billing taxpayers for one third of their 2019 taxes. The final tax levy amount requires that the County pass their budget (probably approx. 3%) and the Province decide on the School board amount.