Meaford residents won't see their property tax bills rise quite as much as they might have been expecting for 2010.
On Monday night Meaford council adopted the 2010 budget, and that budget will see homeowners paying 3.18 percent more in urban Meaford, 3.95 percent in St. Vincent, and 3.97 percent in Sydenham.
During last year's budget process council committed to a five year plan that would see a blended tax rate increase of five percent each year for five years in order to pay off accumulated deficits totalling approximately $3 million.
In late March the Municipality of Meaford announced that they would be eliminating the deficit this year by utilizing working capital and reserve funds. The five year plan remains in place in order to replenish the funds borrowed from reserves and working capital.
Meaford Treasurer David Kennedy was able to present a final budget with lower than anticipated tax increases in part because of the decrease in the school board tax rate.
Another factor was a decision made at the final budget meeting in March to push a proposed three percent municipal staff wage increase to April 1 which in effect reduced the annual wage increase to two percent.
Most members of council were pleased with the 2010 budget which was adopted with a vote of 5-1 recorded vote. Only Councillor Gerald Shortt voted against approving the budget.
“I cannot support over $1 million increase in taxation, and I have to vote against it because of that,” explained Shortt.
When approving the bylaw to set the 2010 municipal tax rates, Mayor Francis Richardson said that he was pleased that the increase was lower than expected.
“We are well below what council had recommended to staff,” said Richardson.
Councillor Shortt was quick to respond.
“It is still over a 10 percent local tax increase,” reminded Shortt.
Councillor Cynthia Lemon thanked staff for their hard work on the budget and said that she was pleased with the improvements in the budget process over previous years.
"There's been a huge increase in transparency and accountability in our budget process," said Lemon.
