2015 Tax Rates and $31.6 Million Budget Approved

FOR IMMEDIATE RELEASE: 2015 BUDGET AND TAX RATES APPROVED

Date: April 30, 2015
Time: 6:00 am

VICTORIA HARBOUR, ON – On April 22, 2015 Tay Township Council approved a $31.6 million budget for 2015 which included an increase in taxation of $347,315. 

Included in the budget is an increase of $85,025 for policing costs. Residents will now see costs for policing services provided through the Ontario Provincial Police shown separately on the Tax Bill instead of being included as a part of the Township amount as it has been in the past.

Tay Township residents will pay approximately 2% more in total taxes than they did in 2014.

Due to varying changes in assessment, the percentage increase in taxation will vary from property to property depending on how the assessment of a property has changed in comparison to the average.  The average increase in residential assessment for the 2015 taxation was 2.25%.

Mayor Scott Warnock stated that “Council is committed to working towards sustainability of our infrastructure with a 5% increase in roads capital funding ($46,000) and a transfer to the capital reserve of $100,000 in the 2015 budget”.

The Township maintains reserves for the replacement of much of its capital equipment, water and wastewater infrastructure, as well as identified areas of concern such as bridges, and streetlights.  Council continues to improve and follow recommendations within Tay’s Asset Management Plan for equipment, roads, bridges, water and wastewater. 

Included in this year’s budget is the annual road, water, wastewater and drainage capital works, replacement of equipment and the ongoing day to day operations of the Township. Other Capital Budget highlights include Old Fort Fire Hall design work, the Waubaushene Bridge superstructure, interior painting of the Victoria Harbour Water Standpipe, refurbishment and increasing the capacities of the Victoria Harbour Wastewater Treatment Plant and Tay Area Water Treatment Plant as well as park and trail improvements.

Tay Township continues to be financially stable, with competitive tax rates, strong reserves and prudent debt.  Council is committed to maintaining Tay’s healthy financial status and sustainable level of service.

The 2015 Budget and Tax Rates along with Tay’s Asset Management Plan are posted on the Township’s website at www.tay.ca.

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