Kenora residents will pay about $52 dollars more in property tax this year. Councillors passed their budget yesterday.
According to the city, the average home worth about $175,500 will pay $2,442.97 in property taxes this year. This represents a 2.6 per cent increase -- or $52.48 over last year's bill of $2,390.49 on a property that was worth $166,750 last year.
Similar to years past, council noted the sizable increase in the average assessment for properties this year, on average about 5.25 per cent, which outpaces inflation. In response, council decreased spending for their portion of the property tax bill again this year.
Last year, the 2017 reassessment resulted in an increase in the residential tax base of 5.1 per cent. As a result, city council ran with a budget that introduced a 1.18 per cent decrease in the city's residential municipal tax rate.
Major capital projects planned for 2018 include:
Aerial Fire Truck ($1.2 million)
Art Centre ($4 million)
Seventh Avenue South Bridge ($2 million)
Transit Bus ($.51 million)
Handi Transit Bus ($.13 million)
Some of the more significant impacts the City faced in 2018 included:
Loss of Provincial funding of $322K
Increased requests from Mandated External Organizations totalling $102K
Combined net wage impacts of $267K
Continued need to work to address the City’s significant infrastructure deficit
Overall financial highlights of the approved 2018 budget include:
$53.8 million in combined operating, capital, non-capital special projects / unusual spending and reserve appropriations, broken out as follows:
$30.1 million in operating expenses;
$1.8 million in reserve appropriations;
$19.6 million in capital expenses; and
$2.3 million in non-capital special projects / unusual spending
Combined this represents $25.4 million in net tax levy requirement