Residents of Bridgewater could see a hefty increase when they receive their next tax bill.
Town council is proposing a ten cent increase of the residential tax rate in its draft 2021-22 budget. The figure is included in documents posted to the town’s website and if approved would put the rate at $1.75 per $100 of assessment.
No change is proposed to the commercial rates meaning they would hold steady at $3.97 cents per $100 of assessment.
The town’s waste water rate would increase by 15 per cent which amounts to roughly $465 for residential and $990 for commercial. The increased revenue from those bills would be put in reserves for future projects to upgrade and maintain infrastructure.
Gross Operating expenditures amount to $22,556,394, while expenditures in the capital budget come in at $14,252,462.
According to the draft budget, priorities for the Town of Bridgewater have a strong focus on:
Business Retention and Growth – Exit 12A Interchange and the opening up of lands north of Highway 103 for business park expansion and development; Development of an Economic Development Strategy; and the Development of a Marketing Plan.
Environmental Protection – Significant investment in wastewater infrastructure to meet environmental standards/guidelines.
Place Making/Quality of Life – Improved service levels through the development of an Accessibility Plan; Recreation 2.0; investment in our trails and AT Network; Energize Bridgewater; BMA Redevelopment and Policy development.
Organization Excellence – Investment in software programs to automate processes including Time and Attendance, Records Management, and a Payroll Module.
Strong Fiscal Management – Tax Rate Strategy; Capital Reserve Investments; Policy Development in Debt Management and Reserves
Council has begun its formal budget consultations and held its first meeting Monday night. Other meetings are set for April 6 and April 12 and will be streamed on the town’s Facebook page.
