The proposed 2020 Tax Rates and 5-Year Financial Plan are now available for review, and we want your feedback!
Based on recommendations from the Province, Council directed staff to evaluate the revenue impact of applying 2019 tax rates for the 2020 tax year, and adopting the Five-Year Financial Plan Bylaw based on year two of our 2019 bylaw. See below for links to the full draft bylaws and highlights:
2020 Five Year Financial Plan Bylaw 2020-2024 #529-20
- Based on year two of the 2019 Five-Year Financial Plan, 2019-2023
2020 Tax Rate Bylaw #530-20
- General Municipal tax rate maintained at the 2019 rate.
- Results in a modest (less than 1%) increase in revenue for the Village.
- This increase in revenue is due to increased assessment values on non-residential properties. In general, assessed values on residential properties decreased slightly, resulting in an overall decrease in the total assessment value for the Village
Please note that these bylaws were added as Late Items to the Regular Meeting agenda on May 6th for first and second reading. When the April Regular Meeting of Council was postponed due to the power outage, we took the opportunity to add this work to the agenda for the rescheduled meeting on May 6th to give Council and the public more time to consider these recommendations before the adoption deadline of May 15th.
May 6th Agenda Late Item, with both draft Bylaws and accompanying CAO report.
A Special Meeting has been scheduled for Tuesday, May 12th at 2 pm for Council to reconsider and adopt these bylaws.
We invite the public to provide comments and questions relating to these documents to the Village Office by noon on Monday, May 11th.