At its March 14 meeting, Lake of Bays Council approved the municipality’s 2023 budget with a net levy of $6,378,496, and a 6 per cent tax increase. The increase represents an additional $32.88 on a Township property assessed at $300,000.
To arrive at a 6 per cent tax increase, an estimated $847,067 was transferred from reserves. The municipality is also working with an assessment increase of 1.74 per cent.
Significant capital expenditures in the Township’s 2023 budget include:
Fire – Replacement of a 2005 rescue vehicle $230,000. Replacement of exhaust extractors $90,000. Dispose of hazardous fire suppression foam $20,000. Replace four (4) self-contained breathing apparatuses at $32,000. Replace eight (8) sets of bunker gear $50,000.
Parks and Facilities – Replacement of eighteen (18) year-old pick-up truck $60,000. Construction of office for the Superintendent of Parks and Facilities $40,000. Repair docks walkways and shelters for $100,000. Replace Baysville Library Roof for $120,000. The sum of $100,000 has also been transferred to a reserve to replace the Glenmount dock estimated to cost about $400,000.
Other items included in the budget is $10,000 for the Health Hub – despite a deterioration in relations between the Township CAO and representatives. The budget also includes additional hours for staff time at the library at a cost of $25,000.
“Despite the current economic climate including the highest rate from the Bank of Canada since 2008, supply chain issues and rising costs along with MPAC cancelling property value re-assessment for a third year in a row, Lake of Bays has the second lowest residential tax rates in the Muskoka region,” states a media release issued by the municipality which has a population of 3,759.
“We are facing unique challenges at budget time due to high bank rates and fuel costs, as well as supply chain disruptions that have led to long wait times and significant cost increases,” said Mayor Terry Glover. “Despite these challenges, I believe the efforts put forth by staff in developing the 2023 Budget strike a balance between fiscal responsibility and fostering a thriving and vibrant community,” according to the release, which adds that the District of Muskoka has the second-lowest commercial tax rate and the lowest industrial tax rate in Ontario.
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