TRURO, N.S. – Colchester County ratepayers have been spared an increase in this year’s municipal taxes.
Council approved an operating budget Thursday night of $29.7 million while holding the line on both residential and commercial taxes.
“Our tax rates continue to be lower than most Nova Scotia municipalities,” Mayor Christine Blair read, from written remarks to council.
“Together with our staff, we have found efficient savings and chosen to make only responsible investments that fit within our current revenues.”
Colchester’s tax rates currently stand at 88 cents per $100 of assessment while the commercial rate is $2.28/$100.
Last year, taxes in both categories rose by one cent per $100 of assessment on an operating budget of $29.1 million.
The mayor also lauded council and staff for being able to produce a budget without tax increases despite a 1.8-per-cent hike in its municipal contributions to the province.
Approximately 30 per cent, or $9 million, of the county’s annual revenue is transferred to the province for education, housing, libraries and assessment services.
An additional $4.8 million (16 per cent) of revenues are paid out to the RCMP for policing services.
The municipality also supports 95 community organizations through funding for facilities, programs and events. That financial support accounts for $750,000, or two per cent, of total spending.
“Council sees these as valued and valuable investments, but it also realizes that our ability to respond to the increasing number and size of requests is limited,” Blair said, in her comments to council. “This year, under our revised non-profit granting policy, many grant applicants did not receive the full amount requested.”
Six per cent of the annual budget is allotted to debt maintenance and pay down while 10 per cent is placed in reserve funds toward “future needs, unforeseen circumstances and opportunities.”
