Laurentian Valley passes 2018 budget
LAURENTIAN VALLEY – The Township of Laurentian Valley have passed their 2018 general budget which will see a levy increase of 3.84 per cent.
After engaging in several budget meetings over the past five months, it was during their May 15 council meeting that the Township of Laurentian Valley concluded their deliberations and officially approved the 2018 Budget for General, Street Lights, Wastewater, and Waste Collection purposes.
After reviewing the 2018 General Budget of $13,438,734, treasurer Charlene Jackson determined that the township would need to raise the levy by 3.84 per cent which includes one per cent for a Capital Reinvestment Reserve.
That increase would see an overall impact of $2.95 per $100,000 assessment which includes the County, Education and Laurentian Valley tax rates. When comparing the average residential household assessment of $265,854, the increase represents $71.87 or 3.10 per cent per year over last year’s average residential household assessment of $258,700.
“The importance of maintaining the Township’s Infrastructure is the reason why the Township has implemented a one per cent Capital Reinvestment Reserve to ensure taxes raised are going towards improving our assets. The Township of Laurentian Valley has experienced large decreases of funding from the Ontario Municipal Partnership Fund which previously funded the majority of our capital projects”, stated Mayor Steve Bennett.
While residents will be seeing their taxes rise, Bennett stressed that Laurentian Valley’s tax rate remains the third lowest in the county.
“We went up, but we didn’t jump up and we’re still not as high as we were in 2005. I don’t think we're ever going to see a zero per cent increase and anybody that suggests that I don’t think is making a smart business case,” said Bennett.
The Water Budget was previously passed with a 4.17% increase to the water rates. Wastewater
tax rates have been reduced by $11.74 per $100,000 assessment. Streetlight and Waste Collection rates remain at $35.00 and $160.00 per year respectively.
Regarding major capital projects, 2018 will see the completion of the final portion of Achray Road, a full reconstruction project of Joe Street from Bruham Avenue to Jean Avenue, along with an additional 4.32 kilometres of road improvements throughout the township.
Bennett expressed that he is very pleased with the capital projects and is optimistic that the township will be able to check off everything on their capital wish list by the end of the year.
“Our capital projects are mainly six to seven roads of which the biggest impact is our final phase of Achray Road. We're sharing Achray Road with the Town of Petawawa and it's a two year plan that we expect to complete by the end of this year. We’ll be contributing $250,000, which is a big chunk of our budget, but at least it will be done by the end of the year,” said Bennett.