The Township of Laurentian Valley has approved the 2021 budget.
The 2021 budget includes $12-million in spending with a levy increase of 7.15% (1.97% in operating, 2% in Capital Reinvestment Reserve and 3.18% increase to the capital budget).
The impact of the 2021 budget translates to $33.98 per $100,000 assessment for municipal purposes.
For the average Laurentian Valley household assessed at $254,820, the impact would be an increase of $86.58 for the year.
This amount is roughly three times higher than the increase Laurentian Valley taxpayers faced in 2020 as the increase was pegged at $9.37 per $100,000 in assessment.
Despite the increase, Laurentian Valley continues to have the third lowest tax rate amgonst the 17 municipalities in the County of Renfrew.
The 2021 budget includes $12-million in spending with a levy increase of 7.15% (1.97% in operating, 2% in Capital Reinvestment Reserve and 3.18% increase to the capital budget).
The capital budget includes $2.1-million for 9 kilometers of road work, and an additional $1.1M in vehicles and equipment replacement. Total capital investment has been set for $3.6 million dollars.
Council has budgeted for a new fire tanker and road grader to replace the aging vehicles that are each over 20 years old.
This is the first time the budget has been approved so early and Mayor Steve Bennett says this means projects can start earlier.
A very rough draft tax rate impact for Laurentian Valley is set at an 8.48% increase.
The complete budget will be available for review online here.
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Laurentian Valley looking at an 8.48% tax rate increase as part of 2021 budget