The District of Tumbler Ridge hosted an Open House on March 3 at Town Hall. There will be a written submission period for public input from March 3rd to March 24th, with a submission review meeting to be held at Town Hall on March 28th, 2006. The adoption of the Bylaw for the budget will be held after that date.
Residents interested in the budget can pick up a package and written submission forms at Town Hall.
Below are some of the 2006 Budget Highlights prepared for residents by the District.
Despite an increase in residential property values of 33%, council has limited municipal taxes to only 11 % or one-third of the average increase.
This has been achieved by reducing the mill rate from the 2005 rate of 10.14 down to 8.38 for the 2006 year.
In addition to this, it has been announced that the Provincial Home Owners Grant (PHOG) has increased by around $100 for this year.
For the average residential home the tax amount paid for 2005 was $1,140. For 2006, assuming no change to school/hospital rates, the amount payable will be around $1,295. With the additional PHOG the amount should be reduced to around $1,200 which is an increase of around $80 per residential property. Please note the Municipality does not have any authority of the rates set by the School and Hospital District.
Therefore, despite a property value increase of 33%, the average resident would only be paying an additional $80 of municipal property taxes for 2006.
Tax share by Class 2005
Light Industrial 33%
Major Industrial 14%
Tax share by Class 2006
Light Industrial 29%
Major Industrial 21%
Q: What does ?mill rate? mean?
A: Tax per $1000 of assessed property value. The rate is expressed in ?mills?, where one mill is one-tenth of a cent ($0.001)
Therefore, you can take your property value, divide by $1,000 then multiply by the mill rate for 2006 of 8.38.
E.G. Property value is $80,000, mill rate is 8.38.
Calculation: 80,000 divided by 1,000 multiplied by 8.38 = $670.40 > this is the municipal taxes that will be payable for the 2006 year. School, hospital, sewer/water will be added to calculate the total taxes payable for the year.
The following major capital projects are budgeted for the 2006 year, subject to final cost analysis.
¨Handicap ramp at town hall on east side of building $35,000
¨Commercial/Residential expansion design project $50,000
¨Industrial Park paving $170,000
¨Commercial Park paving $65,000
¨Downtown sidewalk replacement $150,000
¨Miscellaneous roadwork $175,000
¨Replacement of public works loader $240,000
¨New garbage truck $135,000
¨Commercial and bear proof bins $38,000
¨Community Centre elevator $125,000
¨Aquatic Centre roof replacement $165,000
¨Family Park $266,000
¨External painting of Town Hall and Fire Hall $39,000
The above projects, totaling $1.65 million, are fully funded through Fair Share Grants, General Surpluses, equipment reserves and other government grants.
Council is providing support for the following major projects in 2006:
¨The RCMP Musical Ride will appear in 2006 in only 2 British Columbia locations – Tumbler Ridge is one of those locations!
¨The TR Museum Foundation will be receiving strong support from the District as they work to develop a strong tourist industry base as they proceed with the completion of a feasibility study and business plan. These two reports will be critical elements in the District?s decision to continue its present level of support until completion of the project.
¨A 25th Anniversary DVD/Book set will be developed this year to coincide with other celebrations to mark the town?s milestone. The cost of this project is fully recoverable.
¨Additional funds will be expended as part of the 25th anniversary celebrations in town this year with the goal of integrating various events to create a wide variety of attractions
¨Town planning will receive significant attention to ensure the communities needs are met through strategic planning of growth