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HomeNewsBracebridge taxes to increase by 0.1 percent

Bracebridge taxes to increase by 0.1 percent

BRACEBRIDGE, ON-People can expect to see a slight increase in their taxes for 2020.

Bracebridge Deputy Mayor Rick Maloney said that if your home is worth about $300,000.00, your taxes will increase by $1.74 this year.  

Councilor Andrew Struthers went on to clarify, that the 0.1 percent is scaled to the value of your home, the more your house costs, the more tax you would pay. 

The increase was approved last night. In an interview with the MyMuskokaNow.com newsroom, Maloney said that after doing their research, the town determined that over the past nine years they were able to save the necessary reserves they needed and put the necessary capital expenditures in the right places. These moves left the council in a position where they were able to increase taxes by only 0.1 percent. “The Town of Bracebridge and our municipal council is always conscious about taxpayers’ dollars and how we spend those dollars,” said Maloney.          

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He added that when the town looks over the budget for the next year, they look at the taxes and the services it provides. Maloney noted that sometimes there are years where there are more capital needs than others but because they were able to save money and construct a plan, they only need to increase taxes slightly.   

Maloney said that even though the price for services keeps going up every year, the council is happy they are only increasing taxes by 0.1 percent. Maloney says, “The ability to bring home a budget that is a 0.1 percent increase is a bit of a relief for the taxpayer.”

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