SOUTH STORMONT, Ontario – South Stormont Township Council received the draft of the 2022 municipal budget at their meeting on Wednesday, Nov. 24, 2021.
“Nobody wants to see any tax increases, but we can’t fall behind either”, said South Stormont Mayor Bryan McGillis
The budget proposes a three per cent revenue increase, which equates to about a $29 increase on the property tax bill of the median South Stormont home ($206,000). Administration proposed a three per cent increase to the property tax rate, but an increase in the assessed value of properties lead to a real increase of 3.99 per cent in property tax revenue. That real increase may change when new property assessments are provided to the municipality by the Municipal Property Assessment Corporation (MPAC) in 2022. The budget document notes that this is below the provincial rate of inflation which sat at about 4.9 per cent at time of writing.
The budget also defers several expensive capital projects to 2023, including the Saving St. reconstruction, estimated at $217,800, the Beaver Dam Rd. asphalt overlay estimated at $77,500, the Poplar Ave. asphalt overlay estimated at $64,000 and the Hunters Rd. culvert replacement estimated at $40,000.
“I think this is a very responsible budget, I really like that we’re not going into reserves, … I hope that we can find some savings by doing a joint tender on some projects. Hopefully by getting the tenders out early we can bring back some of the projects that we’re deferring. I am comfortable with approving this,” said South Stormont Councillor Jennifer MacIsaac.
Other members of Council were similarly satisfied with the budget.
“I’m comfortable with passing this tonight, I’m disappointed we weren’t able to do some of those projects, but we identified the priorities and we’re able to do quite a bit this year, and hopefully there will be grant money available to get some of these projects done,” said Councillor Andrew Guindon.
The total net value of the South Stormont budget in 2021 was $7,558,065, the 2022 budget sees that number rise to $7,859,632.
Furthermore, the budget forecasts estimated property tax rate increase for the following two years, with the projected rate increase for 2023 being three per cent and the estimated increase for 2024 being four per cent.
All members of Council voted in favour of the draft budget, with a final vote on the budget expected at their Dec. 15 meeting.