Published on: December 18, 2018

2019 Budget Forecasts: a decrease for the residential rate and large projects on the drawing-table

PRESS RELEASE

 

 

As we approach a new year, Town of Brome Lake presents a budget that will benefit every citizen. As a new three-year assessment roll takes effect, elected representatives are choosing to lower the residential rate. It goes from $0.68 to $0.65 per $100 of assessment, which means a decrease of 4.4%.

The rates applied to farm buildings and vacant lots served follow the same trend, going from $0.68 to $0.65 and from $1.36 to $1.30 respectively, while the other rates remain frozen. It should be noted that the non-residential building rate, one of the most attractive in the region at $1.49, has remained at the same level for a fourth consecutive year.

Despite these measures taken by the Council, the taxpayer’s tax bill will increase, largely due to the pricing of services. Like many other municipalities in Brome-Missisquoi, the Town of Brome Lake adopts organic waste collection in February, which corresponds to the imposition of a $78 rate, combined with a $20 decrease in the amount paid for waste collection (from $101 to $81).

For a residence on Town water and sewer systems and assessed last year at $250,000, and whose value would have increased to $264,500 (+5.8%) with the new roll, the increase is set at 3.5%. The increase is 4.3% for an unserviced home.

Despite the 9.34% average increase in the three-year assessment roll, it should be noted that for more than three-quarters (77%) of homes, the net impact of changes in the residential rate will be 0.8%, well below the Consumer Price Index (CPI), at 2.2% in October 2018.

“With the tabling of the new roll, we had to deal with several variables this year and I am proud of the work done by the Council and our administration,” said Mayor Richard Burcombe.

“With this budget exercise, we look straight ahead. The choices we have made give us the flexibility to carry out many important projects for future generations, including the redevelopment of the downtown core in the Knowlton area.”

For 2019, projected revenues are $14.65 million, up 7.7%. Expenses are expected to reach $12.9 million, leaving a surplus of $1.75 million.

Furthermore, the Brome Lake Town Council is maintaining its focus on priorities for 2019, still in line with the 2015-2020 strategic plan. It is working to modernize municipal infrastructure, intensify economic and demographic development, focus on quality of life, protect the environment and Brome Lake, and strengthen municipal governance and institutional relations.

In the same vein, the new year will give way to major projects after 2018 and its many significant projects, something never seen before in Brome Lake. Here is what will be under the spotlight this time:

  • installation of the footbridge at Trestle Cove
  • the design of plans for the development of the future public square and the replacement of the Blackwood Dam
  • the construction of a water games module
  • the renovation of Town Hall
  • the implementation of programs to participate in economic development and revitalize business infrastructure
  • the completion of work leading to the rehabilitation of the water and sewer main system in the West Brome sector mobile home park

Investments amounting to $10.2 million for 2019, of which $3.85 million will come from grants.

The Bromont-Brome Lake joint police service project will also be at the top of the list of priorities over the coming year. “We have taken several actions since the fall to raise awareness among the new government of our strong desire to join Bromont in terms of police services, said Mayor Burcombe. All efforts will be made at the beginning of 2019 to move the file towards the expected result. ”

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To view the full budget presentation, click here

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