Home Municipal Services Finance/Taxes 2014 Operating Budget
2014 Operating Budget
The 2014 Operating Budget includes a 4.3% municipal tax rate increase. The owner of a typical home will pay approximately $79 per year ($6.58 per month) more in municipal taxes in 2014 based on the same property assessed values. The budget also includes an increase in the differential tax for non-residential properties from 33% to 38%.
Current service levels are maintained for 2014 despite the growth in service demands resulting from additional roads and pathways, new playfields and streetlights, increased use of recreation facilities, increased residential and commercial customers, along with extraordinary inflationary pressures in new facility operating costs, utilities and protective services. Current water and sewer rates will increase 3.5% on average and the storm sewer utility rate will increase to $11.31 bi-monthly.
Highlights of the operating budget include the following service enhancements:
The Town’s capital budget of $8.477 million provides for new infrastructure and facilities including upgrades to both the water and wastewater treatment plants and the Operations Centre, equipment and fleet replacements, Skateboard Park improvements, an additional outdoor rink, and community garden. The budget includes a $4,185,000 contribution to major capital reserves to save for future replacement needs; restoring contributions back to 2012 levels.
Have you taken advantage of the property tax installment plan? TIPP makes budgeting for your property taxes easier. The single payment is broken into manageable monthly payments. Call 403.938.8919 for more information.