News

Budget receives final approval, taxes up 2.06 per cent

Council has granted fourth and final approval of its 2013 budget.

This year's municipal tax rate will rise by 2.06 per cent.

Last week, council debated the budget one final time before granting the first three readings to the financial plan bylaw.

The 2013 tax increase breaks down to 0.16 per cent for city operations, 0.42 per cent for policing, 0.78 per cent to make up for lost revenue due to the provincial increase in farm exemptions, and 0.7 for capital.

Water rates will not increase this year, while sewer rates will rise by five per cent in 2013. Solid waste fees will not increase in the coming year while a storm drainage increase of two per cent has been approved.

The average homeowner (based on a home valued at $400,000) will see their taxes go up by $39, sewer rates by $11 and drainage rates by $3 for a total impact of $53 this year.

In total, the average homeowner will pay $4,025 in taxes and fees in 2013.

For more keep checking abbynews.com

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