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Interim tax levy at 50 per cent

by David Meyer

ELORA - Centre Wellington councillors agreed in their committee of the whole on Dec. 5 to set the interim tax levy for 2012 at 50 per cent of last year’s total tax bill.

The first two installments, which will be roughly equal for residential taxes, are due on Feb. 29 and April 30.

Installments for commercial, residential, and apartment buildings are due on March 30 and May 31.

Council also authorized treasurer Wes Snarr to borrow up to just over $12 million to meet expenses for the first few months of next year until the tax money starts arriving.

Finance committee chairman Fred Morris explained the issue is a temporary debt and “something we always have” in case of emergencies.

He asked if the township had ever used that borrowing authority.

Snarr said that has never happened, but “it is good to have it in place.”

Council approved passing both bylaws unanimously.

 

December 16, 2011

 
 

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