SOUTH STORMONT – While taxes are actually going down in the township, ratepayers won’t be seeing it on their bill in their mailbox.
South Stormont released its 2015 budget highlights and impact to reporters Wednesday.
The municipality is set to pass an overall tax rate for 2015 of minus 0.7 per cent. But once you factor in Ontario property assessment, that number jumps to plus three per cent.
That’s approximately $12 a year on $100,000 residential property.
The township will collect $5,459,977 in taxes this year compared to $4,960,707 in 2014.
With the tax rate going down, one would think the township would be collecting fewer taxes. However, this number includes new growth (homes and businesses that will build and start paying taxes in 2015).
South Stormont also plans to add roughly $350,000 to its “healthy” reserve budget.
Mayor Jim Bancroft says they have a busy budget year planned including a new Fire Master Plan, new public works equipment, parks and recreation projects, culvert replacements on Eligh-Beckstead Road and an engineering study for replacing a culvert in Newington.
The numbers above don’t include the education taxes and the county taxes (which make up 65 per cent of the overall tax bill).
With those numbers in the mix, a homeowner will face an $81 jump in their bill a year (based on a $199,000 home).
Treasurer Johanna Barkley tells Cornwall Newswatch they are still waiting on the province to confirm its education tax rates before the budget it passed, likely sometime in April.