Middle of the road homes in Picture Butte will likely see an increase in their municipal taxes this year.
Mayor Terry Kerkhoff said a lack of movement in the higher end homes means a drop in assessment which means the lower to mid-range homes could see an average of a two or three per cent increase while the higher end homes will see an increase more in the one per cent range.
“Those with higher assessments will see a reduction.”
Kerkhoff said some residents will see an increase in their tax bill while some, due to their assessment, will see a slight drop. Overall the town has approved a slight increase to taxes for this year over last year.
Taking an average based on the homes owned by the six town councillors and the mayor, Kerkhoff said they were able arrive at the overall averages.
“We chewed on the budget. It’s basically a maintenance, status quo budget.”
Commercial properties in the town will likely see an overall decrease in their taxes by roughly 1.5 per cent on average.
Overall the town’s budgeted tax increase is almost five per cent less than last year. In 2009 the total budgeted revenue was just over $1.8 million will expenditures at just over $3 million. In 2010 the budgeted revenue is set at just over $2.1 million with expenditures pegged at almost $3.4 million.
The overall increase in taxes needed to balance this year’s budget is almost $68,000 with $16,000 of the increase coming in requisition increases, which are not controlled by the town.
Picture Butte already had two major projects in the works which will carrying into 2010 including the water line from the City of Lethbridge and the retro-fit for the North County Recreation Complex. Phase 1 of the water line project is almost complete, the hook-up at the edge of the city limits, and Phase 2 and 3 expected to go to tender this month.
“We’re still on track, time wise, and under budget.”
The recent fundraiser for the complex retro-fit has generated almost $150,000 for the project leaving a shortfall of about $175,000 but there is still a truck raffle and some smaller grants generating the potential for additional funds.
“We’re just waiting for other contribution. I’m pretty confident we can get it done.”
Kerkhoff said built into this year’s budget are a number of minor projects around the community such as sidewalks and roads. The town is working on a system for prioritizing these smaller projects so they can be addressed in the yearly budget in a timely manner.
“Some of these have been sitting around for a couple of years.”
The new budget also puts some funds into reserve in order to address the increasing cost of maintaining town facilities in Picture Butte. With long term planning, the mayor said the town would like to put some funds away to address the on going cost of operating an arena and a swimming pool.