February 28, 2022 12:19pm
Municipality of Kincardine Council passed the 2022 budget with a 4.94% increase in municipal taxes.
That works out to an additional $98.78 on the average residential tax assessment of $275,000.
A media release from the municipality says the Operations fleet replacement program requires an annual investment of over $700,000 in order to be sustainable. And the fire department requires a $3.95M total investment in its fleet over the next five years.
$3.81M being contributed to the Lifecycle Reserve Fund for current and future capital and infrastructure repairs. The budget also includes $342,000 in software contracts and computer hardware purchases.
The public sector has been experiencing significant insurance premium increases and the Municipality of Kincardine has been advised to budget for an increase between 15% – 45%. The budget reflects a premium increase of $93,000.
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