Pugwash Approves Tight Budget and Tax Hike
The Pugwash Village Commission approved its 2021-2022 budget this evening with planned expenditures of $320,091.
Despite its continued ‘close to the bone’ grip on spending, property taxes will rise by 1.5 cents per hundred dollars of assessment.
That puts the residential tax rate at 33.5 cents , generating $159,835.87, the commercial rate at 40.5 cents returns $35,879.76, while the resource property rate will bring in $1,475.01 at 33.5 cents per hundred. The total property tax revenue is 197,190.
Commissioners struggled through the long process over the last few months, trying to balance the ever growing costs against any tax increase, especially during the uncertainties of the coronavirus pandemic.
Some budget items are contingent on other sources of revenue. For example, the village has applied for a “Thrive Outside” federal grant to expand and enhance recreational facilities in Eaton Park. That $60,000 project would be scaled back or delayed if the federal program is not available this summer.
Like everyone else, the village faced an increase for insurance and other administrative costs beyond its control.
The budget also commits $20,000 to capital reserve — like a rainy day or emergency fund. The reserve was depleted with construction of the Pugwash Harbourfront Centre and must be replenished as required by the province.
Click HERE for the complete budget document.
Add your comments below.