Municipality approves budget with 4.73% tax-rate increase
By Liz Dadson
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Kincardine council has approved the 2014 budget with a 4.73-per-cent tax-rate increase.
Wednesday night (Feb. 19), council moved into closed session to consider personal matters about an identifiable individual, including municipal or local board employees and employee negotiations.
Following the in-camera meeting, council returned to open session and approved the budget, including operating expenses of $23-million and capital projects of $5.3-million.
This represents a 4.73-per-cent municipal property tax-rate increase, said clerk Donna MacDougall. That translates into an increase of $56 for the average residential property assessed at $245,000.
When the impact of increased assessment values is incorporated, off-set by a reduction in the Bruce County levy and education taxes, the overall increase in the tax levy amounts to $154 on the average property tax bill.
The budget includes a 1.5-per-cent increase in staff compensation rates.
Some of the big ticket items in the capital budget include:
About $4.5-million in capital projects was carried forward from 2013, including the following large items:
For details on the operating and capital budgets, click here.
To read more on the budget, read the following articles:
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Saturday, February 22, 2014