Village council may have to make some tough choices if they want to keep next year’s property tax increase under 5.96 percent.
That comes from Director of Corporate Services Annie Bérard in a report to council, outlining several options council can follow as they finalize budgets for the 2025-2029 Financial Plan.
The director says property tax revenues will increase next year, as assessed values have gone up.
“For 2025, the plan as presented shows an overall property tax revenue increase of 7.83% for existing 2024 rate payers,” said Bérard.
However, she cautions that the village has limited resources for any initiatives not currently in the draft. That means if they want to follow through on plans to hire a full-time assistant deputy fire chief, add accessible washroom stalls to the CRI gymnasium, or follow through on a summer commitment by council to contribute to the “Sue Big Oil” fund, they will have to raise property taxes or cut other services.
“The Financial Plan only includes increases that are deemed to be higher priorities, based on the following factors: Required for life and safety, Regulatory requirements, Possible future consequences due to asset failures if not funded, and possible future consequences due to increased costs if not funded,” she says in her report.
Council will review the report at the Committee of the Whole meeting on Monday. A revised 2025-2029 Financial bylaw to be presented to the public at the Village Hall Budget Open House on November 18.
