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Tax increase in Cumberland less than expected
Cumberland council heard March 31 that this year's proposed property tax increase is lower than what came out of March's budget discussions.
Committee of the whole had opted during budget discussions to increase the property tax rate slightly from Village staff's suggested increase after making a number of changes to the draft financial plan.
But, financial officer Michelle Mason noted during Monday's Village hall meeting a mural project for youth crime prevention will not go forward, as the Village's application for a $10,000 grant was not approved.
The Village would have chipped in $11,000 from its own coffers into the project, so it now needs to generate $11,000 less in property taxes. Thus, the proposed increase went back down to what was originally put forward by staff.
According to Mason's report, the proposed municipal property tax increase to the average family household is 0.6 per cent, but that doesn't include amounts collected for other taxing authorities. Some of these rates are as yet unknown by the Village, but the net 2014 increase to the average family household is estimated at 1.8 per cent, pending any rate changes from other taxing authorities.
Financial plan and property tax rate bylaws are expected to come before council for first reading April 14.
To view the details of the draft budget, visit www.cumberland.ca.