West 麻豆精选 residents will be getting their property tax assessments soon, along with a 6.85 per cent increase for 2024.
The city budgeted just over $45 million in tax demand for 2024.
Looking at the next four years, property taxes are forecasted at 5 per cent for 2025 and 2026 and 4 per cent at 2027 and 2028.
鈥淚f that鈥檚 the will of council,鈥� said Warren Everton, chief financial officer. 鈥淥bviously, every year council had to deliberate and decide on these numbers.鈥�
A city media release states 鈥渢he 2024 budget contains a core tax increase of 5.24 per cent to maintain existing services. The total increase of 6.85 per cent also covers inflationary costs, including software licensing, and addresses fair, negotiated wages for firefighters, police officers and general staff who provide core services and deliver daily needs to our community.鈥� It also includes resources to address housing needs and changes to provincial legislation, with funding to come from reserves for 2024.
The city鈥檚 capital budget is $32.2 million with $22.7 million from reserves, $6.1 million from Development Cost Charges and $3.4 million from debt and grants.
Projects include:
- Shannon Lake Road Multi-use Pathway from Swite to Westbank First Nation;
- A roundabout at Shannon Lake and Asquith Roads;
- The Road Rehabilitation Program, which will increase from to $2.1 million up from $1.2 million in 2023, funded from grants and capital reserves.
Also included is funding the remaining $6.3 million for the Fire Hall #32 Replacement Project. The borrowing, of up to $8 million for the project was approved by council in the 2023 budget.
It was subject to the Alternative Approval Process receiving elector assent, which was confirmed in March 2024.
Council adopted the 6.85 per cent increase and the 2024-2028 Financial Plan and Ten-Year Capital Plan at its April 9 regular meeting.
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