The Village of Boyle has increased its residential mill rate from 7.194 to 7.7161.
“We are looking at raising more than $1 million in taxes,” said the village’s director of corporate services, Lori MacMurdo, at last Wednesday’s regular village council meeting.
For owners of a house valued at $150,000, an increase of $78 would appear on their general municipal taxes, provided the assessed value of the home hasn’t changed year over year.
“Most of the comparisons that I did, the increase was about $100 … for the bigger properties,” MacMurdo said.
The estimated municipal expenditures and transfers set out in the budget for the Village of Boyle for 2014 will total $5,203,200. Municipal revenues and transfers from other sources will cover $3.81 million; the other $1.39 million must be raised through taxation.
The requisition for the Alberta School Foundation Fund will be $244,483.41. The Greater North Foundation requisition will be $26,531.51. Both have decreased from last year, said MacMurdo, which means despite the seven-per-cent increase in mill rate, homeowners are looking at about a three-per-cent tax rate increase overall.
Farmers will also see a three-per-cent increase. The farmland general municipal tax rate is 17.8159. Non-residential properties have a tax rate of 17.4934, and machinery and equipment has a tax rate of 17.4934 — the same as last year.
The village has increased the minimum amount payable as property taxes for residential, business and farmland properties from $450 last year to $500 for 2014.
Mobile home owners will see an increase of the minimum amount of payable property tax from last year’s $250 to $300 this year.
The operating and capital budgets were also presented to council for approval last Wednesday.
MacMurdo stated the landfill deficit requisition is down by 30 per cent.
“Revenue is up in subdivisions and planning due to selling land for Wildrose Villa,” she said. “Recreation is way up because our revenue is up because we are expecting a high usage for the RV park.”
The budgeted revenue for the arena has also been increased for this year due to outside teams renting ice time in Boyle.
“Planned capital projects include preparing the land for the new administration building. We purchased the quad and trailer for the fire department (and) a new line painter,” she said.
Other capital projects include replacement of the water and gas metres for the entire village, installation of lighting at the tennis court and the purchase of a new fleet vehicle.
“The capital expenses … total $1.4 million. $1.3 will be funded by grants,” she said.
Councillor Bob Clark asked if any money was being put into reserves.
“We are pulling out of reserves to fund the new (village administration) building. There is money that is reserved for other projects,” MacMurdo stated.
Clark explained his concern.
“Next year we are going to have to do something with streets and sidewalks. If we use up all that money this year, where is it going to come from?” he asked.
MacMurdo stated no money has been put into reserves for the last two years.
Mayor Don Radmanovich made a statement about Boyle’s financial future that he noted might be controversial.
“As much as everyone is going to hate me for saying it: increasing taxes a percentage every year,” he said in answer to Clark’s question. “We have had next to zero tax increase for the last few years. Everyone keeps wanting, and everything keeps costing more money.”
All three readings of the budget were passed during last Wednesday’s meeting.
