Tax increase buys improvements to County roads

A tax increase of 5.5 per cent will result in $2.3 million in “dire need” road work and improvements in other services in Prince Edward County.

Property tax figures for 2014 will be determined once MPAC (Municipal Property Assessment Corporation) releases the 2014 assessments in the new year, however the increase means that for each $100,000 in property value, taxes will increase by approximately $43.

“The proposed year over year budget increase of 0.58% opened the door to a much needed road capital infusion of $2.375 million. The total Operating budget of $46.0 million and total Capital budget of $10.6 million require a net tax levy of $29.6 million,” said James Hepburn, Director of Finance, in a statement.

Acknowledging the County roads system is in dire need of improvements, Council approved a $2.375 million transfer to the roads capital reserve.

“Overall, I am pleased that we have brought forward a budget that balances our need to bring new and improved services to residents, while maintaining our commitment to fiscal responsibility and prudent financial management,” said Mayor Peter Mertens. “Staff and council did a tremendous job with the budget for 2014.”

Typically, the County budget comes forward in March, but Mayor Mertens said that “in an effort to plan proactively and efficiently, deliberations were moved to December to finalize the 2014 budget prior to the end of the fiscal year, which allows capital works projects to obtain more favourable pricing and to begin sooner.”

Click here for more information and the full 2014 Budget Binder. http://www.pecounty.on.ca/government/corporate_services/treasury.php