 |
|
|
 |
 |
 |
 |
 |
 |
 |
Inside Links
SIMCOE COUNTY NEWS
|
New Tecumseth's last budget before elections to be adopted tonightPosted February 8, 2010The final municipal budget of this current term of council is scheduled to be approved tonight that raises the average local portion of the property tax bill by about $71.29 or 5.46 per cent over last year on a home with an assessed value of $269,744. The net tax levy amount of $18,150,017 that will be collected to finance the shortfall between $25.6 million in projected operating expenditures, and $7.52 million in anticipated revenues, is an increase of 4.51 per cent over last year. Projected revenues include a one-time transfer of $550,000 from the sale of land and $563,270 from the mill rate stabilization fund. It marks the first time the sale of property proceeds have been used to finance operating expenditures. One of the areas generating the most friction on council over the past two sessions, expected to continue tonight, includes the list of road projects. Last week in committee, the majority of councillors voted to remove $197,000 worth of road work on 15th SR between 10th and 11th Lines, and reallocate those funds to pay for Lilly Street Dayfoot to Smyth $55,550; Lilly Street Centre to Dayfoot $20,400; and Walkem Road $66,000. The remaining $55,000 could be used on Downey Street, but remains outstanding.
Without it, the total debenture for roads this year will be $1,006,107
and include
If as expected the budget is approved tonight, it will be about a month earlier than all previous budgets since amalgamation in 1991. |
|
