Tax Decrease For Petawawa 0
PETAWAWA - With the town's growth and development shooting upward over the past year, council brought down a $13 million budget Monday night containing a 3.61 per cent tax decrease.
Delivering the annual budget address Monday night, Mayor Bob Sweet announced that Petawawa's total property assessment has surpassed the $1 billion mark thanks to the addition of $33 million in new housing in seven developing subdivisions.
"I am pleased to present a municipal budget that not only allows the town to continue to provide quality service to its residents, but it allows the town to complete an impressive number of capital projects, while maintaining a very reasonable tax rate," said Mayor Sweet. "Thanks to the hard work and dedication of staff, we have been presented budgets that reflect our core value of fiscal responsibility."
The effect of the decrease will vary from property to property depending on assessment. The levy will be $272 for every $100,000 of assessment. Last year, the tax rate had been hiked to 3.3 per cent, levying $283 on every $100,000 of property assessment.
The mayor credited the formulation of long-term planning reports, including a corporate strategic plan, infrastructure study, recreation master plan and capital replacement schedule with giving council the flexibility to project spending requirements into the future.
"Due to council's commitment to long-term planning, the municipal budget includes a wide variety of important capital projects without causing any increase to the tax rate," Mayor Sweet said adding these documents have, "ensured appropriate planning for growth and development, which has maintained our infrastructure over time."
Leading all expenditures is $1.9 million in roads infrastructure including $580,000 for the next phase of the Herman Street project, which will see storm water management and urbanization of the stretch between John Street and Murphy Road over the next two years. Council has decided to allocate $449,419 from the federal gas tax to Herman Street.
A total of $576,000 will be allotted to the rehabilitation of Sylvan Drive, Rantz Road and Evergreen Drive.
Another $112,000 will be spent to bring Renfrew Street up to urban standards. The most costly initiative will be the reconstruction of Victoria Street, a project jointly funded by Renfrew County. Over $1.8 million will be allocated between the capital sewage and water budgets to replace the water and sanitary sewer works.