Laurentian Valley residents can expect 2.89 per cent hike 0
LAURENTIAN VALLEY - It appears as though township residents can expect a 2.89 per cent increase in the tax rate for 2012.
On Tuesday night members of Laurentian Valley council had an opportunity to look at a second draft of this year's budget document during the committee of the whole meeting.
In its current form, the budget allows for expenditures of $8.38 million, $3.4 million of which will have to be collected from taxpayers in the municipality.
Based on Laurentian Valley's average residential assessment of $181,000 for 2012, residents would pay $619.29 on the municipal portion of their tax bills, up $59.77 from 2011. This year both the county and education tax rates have decreased by 4.27 per cent and 4.33 per cent respectively, which translates into $665.17 and $400.01 for a total tax bill of $1,684.46 based on $181,000 worth of assessment.
The budget still includes $100,000 to pave an estimated 6.4 kilometres of roads and an additional $187,500 has been budgeted towards other works for 36.4 kilometres of roads.
Following discussions on the first draft of the budget, treasurer/deputy clerk Charlene Jackson increased the grant to the Pembroke Public Library, altered the fire budget because some of the projects listed were completed in 2011, and budgeted for anticipated increases of five per cent for water and sewer.
As a result of discussions last night, an additional $2,000 was placed in the recreation reserve to bring the closing balance to $3,050. In total, projects in the budget were financed from reserves to the tune of $474,550. Combined with reserve contributions of $720,353, that leaves the township with a closing reserve balance of $4.2 million.
Council has scheduled a budget meeting for May 9, but if members of council are happy with this draft, it is expected to approve the budget at its regular meeting May 15.
Tina Peplinskie is a Daily Observer multimedia journalist