WELLINGTON NORTH - Council passed the township’s 2022 operating and capital budget with a 2 per cent township property tax increase.
Council approved the 2 per cent township property tax increase for Wellington North at Monday’s meeting. It translates to an increase of $24.71 on the annual tax bill for the average residential property assessed at $269,673.
The county portion of the tax increase is set to be finalized at the end of January.
At its second budget deliberation on Dec. 13, Adam McNabb, township’s director of finance, proposed a 2.5 per cent township property tax increase, a significantly lower increase from the preliminary 2022 budget meeting, were an increase of 19.22 per cent was initially floated.
“The budget looks good and I think the work that has been done to bring the tax increase down to 2 per cent has been amazing. I think 2 per cent is fair,” said Coun. Sherry Burke.
The 2022 operating budget is a 4.86 per cent increase from last year’s, which translates to $254,491 of increased levy dollars in comparison to the 2021 budgeted levy of $5,232,746. This does not include any capital contributions and transfers to or from reserves.
The 2022 capital budget is $15,194,892. The majority of the budget will go to the roads and drainage department with a budget of $6.8 million for projects such as the resurfacing of Line 12 between city roads 14 and 16; base rebuild and rehabilitation on Sideroad 9 West from Concession 7 to Concession 9; and resurfacing of Birmingham Street East between Egremont Street and Church Street.
The additional OCIF the township received for 2022 will not be used for current capital projects, but will be put aside into reserves for future projects.