2022-23 MUNICIPAL BUDGET APPROVED; TAX RATE SUSTAINED
Municipal Council is proud to announce the approval of the 2022-23 operating and capital budgets; without corresponding increases to residential and commercial rates.
Based on per $100 assessment, the residential tax rate will remain at $1.025, the commercial tax rate will remain at $1.80, and the Bridgetown community tax rate will be reduced to $0.005290 (formerly $0.007935).
“Council approved a fiscally responsible budget for the 2022/23 fiscal year with no increase to the tax rate,” said Annapolis County Warden Alan Parish. “We are operating in an environment with significant economic pressures from COVID recovery efforts, increasing interest rates and the highest level of inflationary increases in many years. The cost of providing services is increasing rapidly and ensuring fiscal sustainability over time is critical. Accordingly, this budget allows for an increase in the County’s operating reserves.”
As Annapolis County CAO David Dick explains, the operating budget has many revenue sources including user fees, government transfers (grants), grants in lieu of taxation (other Government owned properties), reserves, etc., but is predominantly funded via property taxation. Expenditures include mandatory payments to federal and provincial entities like RCMP and education, in addition to local services in General Government, Protective Services, Transportation, Community Development, and Recreation & Culture.
“The County is facing increasing cost pressures on the expense side and decreasing revenue pressures. The goal is trying to balance the affordability for residents.”
The County will be undertaking some major projects in the upcoming fiscal year including Queen Street (Bridgetown) renovations and water and wastewater capital improvements.
“We tried to create a 2022/23 operating budget that would allow us to build future sustainability and address the needs of the ageing infrastructure while keeping the tax rate the same as the prior fiscal year,” noted Warden Parish.You can view the budget in its entirety at: Approved 2022-23 Budget