The proposed 2023 operating budget is $50,701,000, representing a more than nine per cent increase over 2022. The capital budget, which includes “expenditures to purchase, develop or construct major new assets with useful lives greater than one year”, was presented to council at $25,200,000, a more than three-fold increase over 2022.
In the budget documents presented to council, property taxes are to be increased by 4.87 per cent. Based on the average property value of $310,000 in the municipality, the rate hike amounts to an annual increase in property taxes of an average of $107. The proposed water and sewer tax rate increase is 4.49 per cent, amounting to a $40 increase annually for the average household, and waste management services are drafted to increase by three per cent, or $6.44 annually.
According to city treasurer Frédéric Desnoyer’s presentation, the average household will pay $3,896 in taxes in 2023. Of that, more than 30 per cent, or $1,369 goes to the United Counties of Prescott Russell (UCPR), the municipality receives $2,306 and $221 goes towards garbage collection.
Budget discussions continued Tuesday night and a final budget is to be presented once deliberations are completed.
