After a marathon two full days of a special Council Meeting to review the 2021 budget line by line, Council managed to reduce the draft budget sufficiently to more than meet the 0 to 1% target set by Deputy Mayor Suzanne Séguin. All Councillors contributed but Councillor Brian Darling made the most suggestions for reductions – although some were only to start a discussion. There were many decisions made and a lot of information provided so it won’t be possible to give a full report in one post (besides, I’m tired!) But stay tuned over the next week for reports on the highlights – e.g. what to do about the beach, the CCC and the Concert Hall. Below is the full motion that Council passed at the end of the meeting.
WHEREAS the Committee of the Whole has considered the 2021 Town of Cobourg Operating and Capital Budget recommendations as presented at the Committee of the Whole Budget Meeting held on January 21, 2021;
NOW THEREFORE BE IT RESOLVED THAT Council approve the 2021 Capital Budget in the amount of $8,124,600.
AND FURTHER THAT Council approve the 2021 Operating Budget with the Municipal Levy of $24,793,569 which represents a 0.4% increase over the 2020 Operating Budget and a 0.2% net decrease after allowing for New Assessment Growth of 0.6%.
Although the above motion was passed unanimously, it was a Committee of the Whole meeting so the motion will need to be ratified in a future regular meeting. This is generally a formality.
Assuming there are no further changes, the approved budget means that if your home’s valuation increased by the same as the average in the town, then your Cobourg tax bill will actually go down. If your valuation is unchanged, then your Cobourg taxes will certainly go down. The County has already announced their increase will be 1.58% after growth and the School Board has not yet announced their tax levy for 2021. There is more on how Municipal taxes work at this page.
There will be more detailed reports on Cobourg News Blog over the next week or so. Stay tuned.