The Town of Bridgewater has unanimously approved its new budget which includes a higher residential tax rate but stability going forward.
The tax rate will increase by 10 cents to rest at $1.75 per $100 of assessment. It marks the first increase in nine years.
In a recent interview, Mayor David Mitchell says it’s a bigger increase but the town doesn’t anticipate an increase in the next few years.
“The budget process is seldom easy, and our council had to make some tough choices this year – including a tax rate increase for the first time in nine years,” said Mitchell. “What’s really important for our residents to remember is that we’re putting this money to work for them – it’s being used to improve our community, to position Bridgewater to grow over the next decade, and to continue providing a high level of service to our residents in everything we do, from parks to culture and recreation programs to transit.”
Meantime, no change to the commercial rates so it will hold steady at $3.97 per $100 of assessment.
The waste water rates will increase by 15 per cent for residential and commercial customers.
The revenue will be placed in reserves to help upgrade existing infrastructure.
Highlights:
Residential tax rate increase of 10 cents per $100 of assessment to $1.75.
No commercial tax rate increase – rate remains at $3.97 per $100 of assessment.
The commitment of more than $14 million in capital projects this year includes:
$5.6 million in wastewater infrastructure upgrades to modernize our collection and treatment system
$4.7 million total in road upgrades and infrastructure related projects, including more than $700,000 in pavement renewal projects throughout Bridgewater
$3.2 million in new infrastructure for Exit 12A and the Bridgewater Business Park expansion
$200,000 for sidewalk improvements
The Town’s commitment to core services and strategic priorities remains strong, including allocations for Fire Protection ($1.4 million), Bridgewater Police Service ($3.9 million net), REMO ($24,345) and other core services, such as Bridgewater Transit and Energize Bridgewater’s emerging program to reduce energy poverty in our community.
Council will also be investing in a land sales and marketing strategy for Town-owned land in the Bridgewater Business Park; an allotment of $115,000 has been earmarked for needed repairs to the roof and walls at the former Bridgewater Memorial Arena, while completing Transit/Parks staff space on site; and more than $129,000 has been earmarked to support local non-profit organizations through grants and tax exempt status.
