Town Council has adopted a Financial Plan for 2017 that will result in a minimal increase of 0.66% in municipal property taxes. The net impact of the very modest tax increase on the average residential property’s tax bill is about $9 for the year, or about $0.75 a month. Once again, there is no change to Water or Sewer rates.
Mayor Steve Price is proud to note that the tax increase has been kept under 1% for the second consecutive year. This has been accomplished without impact to services or the long-term financial health of the Town. Taxpayers are getting more for their tax dollar, as the Town continues to enhance its policing and firefighting capacity, is putting more funding into economic development, is increasing its support to community organizations, and continues to look after its infrastructure. In fact, virtually the entire increase this year is a result of the Town putting more money into replacing its infrastructure. Council and staff worked very hard to keep increases to a minimum, while protecting the high level of service that our residents expect.
Total municipal taxes for the average residence are just over $1,387 per year, or $116 per month. For this monthly amount, the Town provides fire and police services, roads maintenance, parks and public space maintenance, community and emergency planning, bylaw enforcement, as well as a range of related community services. While many of these services may be taken for granted, the value received for $116 per month compares favourably with many common utility bills.
Please note that the tax changes for other jurisdictions, which make up about half the tax bill, are not yet finalized. As always, the tax increase for any individual residence will vary, depending on its assessment change relative to the average home value, which is about $514,360 this year.
For more information on the Town’s budget, please refer to the Financial Services section of the Town’s website, at www.sidney.ca.
Mayor Steve Price