Assessment rate drop means slight increase in Taylor tax rates

Mayor Fred Jarvis opened the public meeting, saying the budget is designed to keep the community "up and thriving well" while making good use of tax dollars. In addition to upgrading water systems and sewer treatment plans, the District is also working towards having revenue-generating services be more cost-effective, and taking advantage of new grant opportunities.

As property assessments have gone down, the District is expecting approximately $102,000 less in tax revenues this year, mostly from industries. In order to make up that difference, some tax rates have been increased.

The residential mill rate has been adjusted, from 3.3034 to 3.4682, which will collect the same amount as 2011. Overall residential revenue will increase by $23,688 due to new market change – new properties this year. The Major Industrial mill rate has increased from 38.5700 in 2011 to 39.6700 which will partially offset the loss in assessment value. However, $50,609 less will be collected than last year.

Light Industry's mill rate will stay the same, but assessment values increased, bringing in an additional $4,924. Business' rate has increased from 5.1992 to 5.2223 and with new market value will bring in an extra an extra $6,790. The amount from utilities, non-profit/recreation, and farmland will only increase by $259. Despite the increases, property tax revenue will still decrease by just under $14,950.

Water and sewer fees will again increase, but as District Administrator Charlotte McLeod pointed out, they are substantially lower than other communities. The District hopes to gradually increase them to a point where they are at full-cost recovery, as well as look at water meters in the future.

Some of the major projects in the budget include creating an Official Community Plan, a waterline upsize project, and running an irrigation line from the river to the golf course for the ponds. $207,000 has also been put aside to reposition a mainline that was moved during last summer's floods. The District has also applied for disaster relief funding for that project.

A small crowd was on hand at the Public Meeting to ask questions and make comments about the budget. The first three readings of the five year financial plan bylaw will take place March 20, with adoption on April 3.