At their meeting last night - Williams Lake City Council unanimously gave 1st, 2nd and 3rd Reading to the 2015 Budget Bylaw which calls for a 0% tax increase for 2015 for municipal taxes but exclusive of CRD, School and other property taxes for which the City of Williams Lake collects for other organizations. Property owners in Williams Lake and portions of CRD Areas D, E, F will see a tax hike of $40/$100,000 of assessed property value, as a result of the successful Sam Ketchum Pool referendum
Other highlights in the City of WL 2015 Budget:
* Use of Water/Sewer reserves to extend Water/Sewer services into areas that don't currently have these services
* $7.845 million in capital for 2015 including a public bathroom in Spirit Square (old Courthouse Square), webcasting of WL City Council meetings, gazebo in Kiwanis Park
* $1.1 million in road works for areas such as Cameron Street from Mackenzie Ave to 3rd Ave North & Borland St from Mackenzie Ave to 4th Ave North
* No new long term debt acquired for 2015 however 2016/2018 will see long term debt acquired for WL Fire Department trucks. 2015 Principal/Interest payments for long term debt for General, Water and Sewer Accounts will be $1,149,721. Short term borrowing for the Cameron St reconstruction done back in 2010 will be paid off this year
* Taxation growth is expected to be $110,000/year however no growth this year as 2014/2015 Taxation growth effectively cancelled each other out. 2014 saw a decrease while 2015 saw an increase, both $114,000 in each year. It is hoped that the newly formed Ec Dev Corporation can bring in new development and thus more taxes
Next steps include passing the Budget Bylaw at its' April 28th meeting and give 3 readings to the 2015 Property Tax Bylaw at the same meeting with the 2015 Budget Process concluding on May 13th while WL Council is expected to pass the 2015 Property Tax Bylaw at this meeting
Full 2015-19 Financial Plan Presentation below:
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