The first draft of the Espanola Municipal Budget shows an increase of 5.99% to residential and commercial property taxes.
Town CEO and Clerk Joseph Burke says approximately 3.97% of the increase is attributable to an increase in the Town’s budget.
He adds the remaining 2.02% is attributable to assessment at risk due to reductions in the assessment value of the Domtar property because of its closure and condition.
He points out the assessment value of properties is determined by MPAC, not the municipality. Burke says the budget is all about maintaining standards of service, keeping up with inflation and ensuring the town is moving toward budgeting enough to sustain Espanola’s many assets and infrastructure.
The talks continue.
CAPITAL, RESERVES AND DEB: https://pubespanola.escribemeetings.com/filestream.ashx?DocumentId=11759
OPERATING BUDGET: https://pubespanola.escribemeetings.com/filestream.ashx?DocumentId=11760
