For at least the 11th year in a row, the town of Laurentian Hills is set to maintain a zero per cent increase in its local tax rate.
Laurentian Hills council will deal with its 2023 budget at its May meeting Wednesday morning.
The draft budget is posted on the town’s website for the public to view in advance of the meeting.
The budget proposes freezing the town’s tax rate where it has been since 2013, at $742.20 for every $100,000 of assessment.
Individual property taxes are the result of the tax rate times the property’s assessed value.
Overall, the draft budget calls for $5.839 million in spending for the current year, up from $5.107 million in 2022.
In addition to residential taxes of just over $2.4 million, the town also receives more than $644,000 in pipeline taxes and $384,294 in “grants in lieu” from the Department of National Defence, Environment Canada, Ontario Power Generation, the Ministry of Natural Resources, and other agencies.
Federal and provincial grants will total almost $492,000 in 2023, and the town will carry over a surplus of $563,910 from 2022…
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