Commercial rate is unchanged
TRURO - Residential tax rates in Colchester County will be increasing this year by one cent, per $100 of property assessment.
Colchester County Council
After April 1 the new rate will be 85 cents per $100 of assessment. For a property assessed at $100,000 the new rate will add $100 to the annual tax bill.
“A one-cent increase is good news given all the things we need to do,” Councillor Christine Blair said during discussion at Thursday night’s council meeting.
The county’s commercial rate remains unchanged at $2.25 per $100/assessment.
The municipality’s operating budget is set at $22,189,541 to the end of March 2015.
Of that, $16.3 million is to be realized through residential rates while $5.8 million is to come from commercial taxes.
The last time county ratepayers saw an increase in their residential rate was in 2012 when it was also increased by one cent per $100/assessment to help pay for the civic centre.
Part of this year’s tax hike was attributed to an increase of more than $200,000 to the Department of Education, which this year will receive $6.7 million from Colchester ratepayers.
The county has budgeted for a $50,000 contribution to the Scotia Pool, providing the pool society can reach an agreement with the province for continued used of the facility.
It did not, however, allocated any funding to the Cougar Dome, which had requested a $100,000 over five years to help pay for capital costs at that facility.
The county is also providing $49,660 in grants to non-profit organizations after receiving requests from that sector totaling $196,615.
Another $16,000 is being allocated for economic development grants, a figure that was pared down from requests totaling $37,930.
This year’s operating budget includes the transfer of $350,000 to the municipality’s operating reserve fund.