A tax hike of 3.7-percent is coming after Bracebridge council approved the town’s 2022 budget.
For a home valued at $300,000, that means you will see $52.07 added to your taxes.
Town council cites other “community-benefiting” projects as the reason for the rise in taxes, one year after a zero-percent increase was approved. Notably, $27.7 million has been earmarked for the Muskoka Lumber Community Centre (MLCC). This year will mark the beginning of construction for the project. Aquicon Construction Company Ltd. was given the construction contract in December. Staff were forced to shave off just under $8 million from their proposed contract after it came in nearly $20 million over their estimated price.
According to town staff, the municipal budget and business plan focuses on maintaining existing service levels, supporting local businesses and managing “financial pressures arising from the COVID-19 pandemic.
Council budgeted for six bridge projects in 2022, with the Sage Creek culvert the most expensive at $1,014,000, but $450,000 of that will be funded from the town’s reserves.
The town’s operating budget, which uses funds for needs in the current year, is set at $21,545,650, while its capital budget, which allocates funds for projects listed in the town’s long-term plan, is $41,266,750.
“Bracebridge continues to experience very strong development activity, even as we cope with the lingering effects of the pandemic,” said Mayor Graydon Smith. “That is why council approved a 2022 municipal budget and business plan containing strategic investments aimed at bolstering our service capacity, while making historical investments in our infrastructure, including the new Muskoka Lumber Community Centre. Since the start of this term of council in 2018, the town’s annual tax rate increase has averaged well less than inflation, reflecting our efforts to keep taxes reasonable for residents and businesses,” said Mayor Graydon Smith.