A typical residential tax bill in Minto will rise by about $104 in 2018.
The Town of Minto 2018 budget was approved by council on April 10.
The overall tax rate, including Wellington County and education portions, increases about 3.6% for the average residential ratepayer or $104 annually.
The town’s share of the increase is about $50, states treasurer Gordon Duff.
The projections are based on a typical single family home assessed at $224,000. Duff stressed that if the County of Wellington makes any changes to tax ratios and other tax policies, the projections could be slightly adjusted.
The operating budget raises the local tax levy by $234,800, from about $4.712 million to $4.947 million.
Among the challenges faced in the budget is a $172,200 reduction in the Ontario Municipal Partnership Fund grant.
In a report to council on April 10, Duff pointed out Minto’s first OMPF reduction since 2012 accounts for about 75 per cent of the levy increase. Despite the decrease, the town will still receive $1,630,700 from OMPF in 2018.
The final budget contains just over $7.89 million for capital work, including $6.8 million for public works. Minto Fire has a $520,000 allocation for capital work. About $450,000 will be spent on capital work at Minto facilities and $97,000 in other areas.
Almost half of the 2018 capital budget is for reconstruction of Elora Street in Clifford, from Park Street to West Heritage Road, at $3.87 million.
Minto Fire is buying a new pumper to replace a 19-year-old vehicle. Noble Family Road in Palmerston will be opened for industrial lots. In Harriston $100,000 has been set for the Kinsmen Pool repair and to finish on George Street work.
The budget also includes the start of upgrades on the 12th Line, paving of the Harriston Legion parking lot, improvements to the Clifford Rotary Park, a new ice resurfacer for the Palmerston arena and upgrades and expansion of the community trail network.
The town will borrow up to $2.1 million to fund Clifford Elora Street and Harriston George Street work.
Mayor George Bridge noted in a press release that, “operating increases the last two years are running close to inflation on average for most homes, while urban commercial ratepayers have seen decreases. This is a big year with the Clifford project and funds must be in place to do this work right.”
Finance chair councillor Mary Lou Colwell noted “the level of borrowing is always a concern, but town reserves are fine and the borrowing is required to match provincial Connecting Link funding.”
The budget is the result of a process that included budget meetings on meetings Dec. 12, and Jan. 11, and a public open house March 20.
Town officials state the 2018 budget theme “bringing it home” promotes a “positive, encouraging and motivating phrase” to arrive at a conclusion.
“The budget punctuates the town’s infrastructure investments and ‘brings home’ a responsible operating and capital proposal using federal/provincial tools now in place,” states a press release from the town.
“Minto’s budget process allows ratepayers to see the same reports and documents council gets, plus meeting videos [at town.minto.on.ca].”
