News

Council approves balanced budget without tax increase

Municipal Council voted in favour of a $29.8 million operating budget for 2020/2021 at the May 20, 2020 Public Council Meeting. Council had met for two committee of the whole meetings prior to approving the budget to ensure no increase to either the residential or commercial tax rate, while ensuring essential municipal programs and services are maintained.

 

“Maintaining our residential and commercial tax rates without an increase is important as we recognize the impact of COVID-19 on residents and businesses,” commented Warden Al Gillis. “We also didn’t want to lose sight of the important services our residents count on.”

Highlighted services and programs in the budget include:
• keeping Transfer Stations available to residents
• a no-fee ice program for youth programs at the Dr. Carson and Marion Murray Community Centre
• a uniform streetlight fee across the rural areas of the Municipality
• a new policy to allow for a one-time property tax installment payment program for residential and commercial properties negatively affected by the COVID-19 global pandemic

Also, as part of the budgeting process, Council served notice of a pending acceptance of updates to the low-income exemption policy. The updates will increase the income thresholds and exemption amounts.

For the 2020/2021 fiscal year, residential taxes will be:
• General Property Tax Rate of $1.19 per $100 of assessment.
• Springhill service area pay an additional $0.86 per $100 of assessment. The all-inclusive residential rate for the Springhill service area is $2.05 per $100 of assessment.
• Parrsboro service area pay an additional $0.48 per $100 of assessment. The all-inclusive residential rate for the Parrsboro service area is $1.67 per $100 of assessment.

For the 2020/2021 fiscal year, commercial taxes will be:
• Commercial General Property Tax Rate of $2.78 per $100 of assessment
• Springhill service area pay an additional $2.18 per $100 of assessment. The all-inclusive commercial rate for the Springhill service area is $4.96 per $100 of assessment.
• Parrsboro service area pay an additional $1.19 per $100 of assessment. The all-inclusive commercial rate for the Parrsboro service area is $3.97 per $100 of assessment.

Council previously approved a capital budget of $4.4 million for fiscal 2020/2021 on April 1, 2020. Staff will now work on preparing tax bills to be sent out. The due date for the 2020/21 tax levy will be July 3, 2020.