Wellington North residents will see a 4.04 per cent hike in their local taxes after council approved its 2013 budget, with no comment, at its meeting on March 25.
The budget passed last Monday was the same budget released at a public meeting on March 4.
Council will raise slightly more than $6 million for its budget, with about $3.6 million earmarked for capital expenditures.
On a home assessed at $213,120, the increase will mean about $20 more in taxes for the year for the township’s portion. On the same home, when township, county and education taxes are figured in, the overall increase is about 2% or $19.
Of the total taxes collected, 44% goes to Wellington County, 36% to the township and 20% to the province for education purposes.
Treasurer Mike Givens, presenting his first budget since being hired, credited council at its public budget meeting with taking measures to reduce township debt, keeping most department operating budgets to a 2% increase and putting more money in reserves.
“(In) 2013 we don’t want it to be a slowdown year,” Givens said at the public meeting. “Staff and council have made strides when it comes to the budget and I’m here to continue that. (We want to) focus dollars toward capital projects and reserves.”
On the capital side, the township will purchase new tanker trucks for the fire stations in Arthur and Mount Forest for around $220,000 each. The money will be taken out of reserves.
Council is also planning to purchase a new snowplow truck at $240,000 with $220,000 of that coming from general revenues and $20,000 from a trade-in.
Another $200,000 will be spent on upgrades at the Arthur sewage treatment plant.
Road projects pegged for this year include $210,000 for resurfacing work on Concession 11 from Sideroad 7 to Farewell, $260,000 for work on bridge 2 on Concession 6, urban top coating of streets at $185,000, and $475,000 for work on Waterloo Street in Mount Forest.
The treasurer is predicting the township will have about $5.5 million in reserve funds by the end of the year.
The treasurer is estimating township debt will be about $8.6 million, with $5 million attributed to recreation and the new Sports complex in Mount Forest. About $1.25 million will be paid on annual principle and interest.
The budget bylaw was passed without discussion.
