Deep River council is set to pass its 2025 operating and capital budgets next Wednesday, following some revisions which came up for discussion at last week’s meeting of town council.
When originally tabled for council’s consideration last month, the average residential property tax bill in Deep River was set to increase by 4.4 percent this year.
Many of the figures in the original version remained unchanged as town council held a public meeting on the budget last week, though there were a number of revisions stemming from council’s deliberations at its February 19 meeting.
Overall, the changes will result in a decrease of $26,075 in the amount of money the town needs to raise through taxation this year, resulting in a property tax rate increase of 4.2 percent.
Under the revised figures, a $204,000 home will see its combined tax bill rise by $145 rather than $153.
The revised budget faced some pushback from Councillor Terry Myers who, while pointing that a 4.2 percent increase isn’t bad, he would like to see property tax increases generally tied to the consumer price index, which sits at 2.4 percent for 2024.
“I don’t think we’re going to get there, but I would recommend amending the budget by removing $100,000 from the transfer to reserves,” Myers said, adding that could help reduce the impact on taxpayers.
“We have more than adequate capacity to do that”…
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