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Budget pared to match OMPF reduction
December 4, 2013 · 0 Comments
Shelburne council has been able to avoid a rise in the tax rate for the 2014 year by taking a carving knife to some of the originally budgeted items in a sufficient amount to match the reduction of almost $80,000 in an estimate of entitlement to its allotment of the Ontario Municipal Partnership Fund (OMPF).
Holding the line on the tax rate does not, however, translate into no increases in the actual dollar amounts of residential taxes.
In fact, because of reassessment, the average change in taxes levied against existing properties will be 1.5% based on the same rate applied to the newly assessed value.
This average change will not be the same for each property. The individual change, up or down or a variance from 1.5%, will depend on each specific change to a new assessment.
Whichever, it could have been worse. The overall budget for 2014 is actually up by about 5%. The revenue, using the same tax rate, will increase by a matching 5%, according to councillor and committee chair Randy Chambers.
Treasurer Carol Sweeney confirmed Tuesday that Shelburne’s new growth will generate enough tax to account for the required revenue.
Monday night’s reductions in the budgets for about a dozen items resulted in saving of $79,300 for taxpayers in 2014.
By Wes Keller
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