Alberni residential tax rate slashed to eight per cent
City residents will be paying an increased residential tax rate of just over eight per cent this year.
Port Alberni city councils made its final budget preparations at a special meeting on March 5.
Departmental presentations were made by the economic development, finance and planning managers and by the city manager.
No cuts were made to those respective budgets, Coun. Hira Chopra said. But economic development was increased by $10,000 for uptown signage.
As well, $300,000 budgeted for repairs to the McLean Mill dam will instead be taken out of the city’s gas tax fund. The money will not be used for the dam but for other infrastructure work.
The money shift equates to a three per cent cut (one per cent per $100,000) to the residential tax rate, bringing it from 11 per cent last week to eight per cent.
Council directed city staff to bring back an amended five-year financial plan reflecting the cuts and new tax rate. A motion adopting the new plan will be ready for first reading on March 25.
“We’re still at first reading and changes can still be made,” Coun. Jack McLeman said. “I don’t like where it is, but that’s life.”