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Councillor Bert Pomeroy, Chairperson of the Finance Administration & Policy Committee, presented the 2024 Town Budget to the Town Council at a Special Meeting on Thursday, February 8, 2024 at 5:00 pm.
Click Here to view full Council Meeting on Youtube.
Click Here to view 2024 Budget Submission
Council Pomeroy stated in his Budget Speech that, “Challenges also present opportunities. As we navigate through these difficult financial times, we can seek creative solutions, explore partnerships, and find efficiencies. Our commitment to fiscal responsibility remains unwavering, even in the face of adversity”.
Council Pomeroy went on to say, “Presenting a municipal budget always presents challenges, with tough decisions to make and a constantly shifting fiscal landscape. This budget has been no exception, and we have worked hard to find a balanced approach that maintains fiscal responsibility while prioritizing critical projects that impact public health and safety”.
It was stated that this year the Council was faced with two choices: either postpone critical projects to maintain critical necessary water and sewer and other projects and services, or raise revenues.
As a result this year’s budget will see residential property taxes increase by 0.5 mils, bringing it from 7.25 to 7.75 while the commercial property tax will increase by 1 mil. The annual water and sewer tax will also increase by $48 per year. As well, metered water rates will increase by 35 cents and sewer meter rates will increase by 25 cents per 1,000 gallons. The Business Tax as well as other fees will remain unchanged.
In terms of spending on critical infrastructure projects, the Town will now proceed with the following projects:
- Water Pumphouse Upgrades for $2.27 million with $600,000 being paid by the Town and the rest coming from the Federal & Provincial governments,
- Sewer Lift Station Upgrades for $1.67 million with $309,000 being paid by the Town and the rest coming from the Federal & Provincial governments, and
- Road Intersection Upgrades for $550,000 with $158,000 being paid by the Town and the rest coming from the Federal & Provincial governments.
Mayor George Andrews stated that “Council has restricted major spending to priority projects that are critical to the community. Times are tough and we are trying to be fiscally responsible to make things better for the taxpayers of our town”.
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