Press Release – 2020 Budget Forecasts: Road Maintenance and the Downtown at the Core of Brome Lake Projects
With 2020 on the horizon, the Town of Brome Lake presents a fiscal framework characterized by continuity. The most significant tax rate increases are below the Montreal Consumer Price Index (2.7% in October 2019*). The status quo is maintained for the majority of service tariffs.
The residential rate therefore increases from $0.65 to $0.665 per $100 of assessment, a 2.3% increase. The same applies to the rate reserved for agricultural immovables.
Owners of serviced vacant lots will be subject to a rate of $1.33, an increase of $0.03. Those with a building of six or more units will pay $0.7875 instead of $0.77.
Used as leverage for attractiveness, and for the purpose of sustainability, the rate imposed on non-residential buildings is fixed at $1.49, remaining unchanged for a fifth consecutive year. The industrial rate is also frozen at $1.86.
The financial exercise was presented by the Council at an extraordinary meeting held on December 16. It allows the preservation of most of the tariffs charged for the services. Only the collection of residual materials ($223) is subject to an increase of $25.
In concrete terms, the impact on the taxpayers’ tax bill is as follows: for a serviced residence serviced valued at $300,000, the increase is $70 (2.7%). The increase is 3.2% for the same house, but unserved, which also represents a $70 increase.
“The Council opts for stability, while important projects must always be completed. We are focused on modernizing municipal infrastructure and we want to increase the economic and commercial development of Brome Lake,” said Mayor Richard Burcombe.
“The year 2020 will allow us to move forward with the rehabilitation of the Blackwood Dam, and more broadly, to continue the work begun with the downtown public square project,” says Mr. Burcombe. The upgrading of our roads and highways will also benefit from significant funding.”
As a result, investments of $2.3 million are planned on the Brome Lake road network, while $3 million is in the budget for the reconstruction of the Blackwood Dam, including dredging work on Mill Pond.
Investments totaling $10.94 million are planned for 2020, 28% of which will be covered by grants.
Revenues exceed $15 million
It should be noted that projected revenues for 2020 are $15.3 million, up 4.4%. Expenses are expected to reach $13.48 million (4.5%), resulting in a surplus of $1.8 million.
“We are in a pivotal moment marked by the completion of long-term projects. Elected officials and the municipal administration will continue to work in symbiosis with the intention of improving the quality of life of our citizens,” said Mayor Burcombe.
*Source: Institut de la statistique du Québec
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Click here to consult the complete document for the 2020 budget forecasts.