As we head into a new year, the Town of Brome Lake has announced its estimated budget for 2023.
Taking into consideration the high inflation rates, the town is keeping tax rate increases for all taxation categories below the current inflation rate with an increase of about 4.5% more than in 2022.
Taxpayers will also see an increase in certain services that are provided by the town, such as water and sewer, as the price of its operations continue to rise.
Projects that are incorporated in next year’s budget include the long awaited conclusion of the Mill Pond dam project, a new fire station, a new pump truck, and more.
“Since we increased our tax rate to about 4.5% only, we considered that we limited the impact of inflation on our citizens; especially since we had to face inflation in our expenses this year,” said Caroline Cusson, treasurer for the town.
According to the press release sent out by the Town of Brome Lake, owners of residential properties will see an increase of $0.55 to $0.58 per $100 of assessment. The rate of non-residential (commercial) properties under $1 million will increase to $1.56 (4.70%) and $1.66 for properties that are over $1 million. The industrial property rate will increase from $1.86 to $1.95 (4.84%).
Owners of vacant lots will see their tax rate increase to $1.16 (4.5%). Buildings with six or more units will seen an increase from $0.72 to $0.75 per $100 of assessment (4.17%).
One of the big differences this year, said Cusson, is that the non-residential have two (tax) brackets.
“All evaluations under $1 million will have a tax rate and everything over $1 million will have another tax rate. (…) Businesses, they’re going to make money and then pay taxes to the town, put that in their expenses, and then they’re going to present their taxation to the government and pay their federal and provincial taxes. Considering that, usually it’s easier for them to contribute the fiscal charge,” she explained.
The town wanted its citizens to know that it made an effort to limit the tax rate considering the inflation, added Cusson.
“We have a lot of expenses this year and a lot of our expenses increased. If we’re just looking at gasoline when we go and pump the vehicles, we have to pay those prices but we wanted to make the best effort in order to not increase the tax rate as much as the expenses have increased. Our expenses increased from 9.7%,” she said.
Brome Lake taxpayers will see an increase in certain services provided by the town, but the price of emptying septic tanks and the pick-up and disposal of residual materials will remain the same.
“Water will have a $10 increase, which will give people a tariff of $210, and sewer will have a $25 increase, which will give people a tariff of $365,” noted Cusson.
More than $17.66 million will be invested in different projects this year. According to Cusson, the biggest project on the table is a new fire station.
“We definitely need a new fire station. The old one is no longer up to code of the CNEST. The problem is that the cost of construction has risen a lot, interest rates have risen a lot,” she explained. “So basically, the council decided to go forward with this project only, and only if, we get a grant from the government.”
Other projects include a new pump track at the community centre, structures to provide shade on the pickle ball courts, continuing to develop the Carke Terrace project in Bondville, and finding new water sources.
“Next year, we are going to start to find new sources of water, so a new well. That’s going to be over the next three years. (…) There’s a big water source that we already have and that we already found, but there’s manganese,” highlighted Cusson. “Basically, we want to filter that water, put it into function, and it’s going to give us a bigger capacity of water.”
To consult the document related to the Town of Brome Lake’s 2023 budget.
Listen to the full interview below: