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Thursday, November 28, 2019

Meaford Finds Ways to Lower Tax Increase

Meaford | by Cody Misner  

The increase dropped from a staff recommnded 7.55% to 4.29%

Meaford Council has been reviewing the proposed 2020 budget framework in order to iron out any wrinkles.  

Staff recently brought forward a 7.55% increase to council.

Staff explained during a public information session that this higher than expected increase came from staff realignment as well as provincial and federal increases.

Council expressed their desires to lower this increase and has made some steps in doing so like having staff use $239,000 of projected 2020 assessment growth funding to lower the tax increase.

Monday council also directed staff to lower the cost of garbage bag tags to $3.00, this is lowers the revenue line in the draft budget from $235,000 down to $213,000.  

They also lowered passed a motion to lower the advertising budget from $38,000 to $30,000.  

These changes lowered the increase to just over 5% by Tuesday morning.  

During deliberations on Tuesday Council decided to put the brakes on a planned project to put synthetic ice in a community arena.

This brought in a savings of $70,000.  

They also removed pre-funding for a road grader at a cost of $100,000 as well as a as reduced the Cost of Living Adjustment from 2.06% down to 1.5% bringing in a savings of $28,000 from the budget.  

The overall Net Levi Reductions according to a presentation given by the Treasurer after Tuesdays deliberations is $386,500.  

This has lowered the Taxi Levi Increase from 7.55% down below the increase requested by council to 4.29%

This change the average increase for a single family dwelling appraised at the average $264,000 would see a yearly increase of around $88 for this budget.

Council will host a special public meeting on December 16th for a review with the community on the changes.  

 

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