Mill rates dip, assessments soar in RM of La Broquerie
Skyrocketing property values in the RM of La Broquerie will gobble up the savings produced by a mill rate decrease approved by council this week.
The municipality’s $10.3 million annual budget passed first reading yesterday following a presentation by acting finance manager Russell Paradoski.
The rural mill rate will fall by 7.9 percent to 15.519 mills, while the LUD mill rate will shrink by 6.5 percent to 15.629 mills.
However, rural property assessment increased 20.7 percent, while LUD assessment increased 6.7 percent.
Paradoski said the owner of an average rural home can expect to pay $17 more in municipal property tax this year. The increase is $32 for average homes in the LUD.
An average rural commercial property should expect a municipal tax bill that’s $54 higher than last year, while an average commercial property in the LUD will owe $117 more.
Paradoski pointed out those increases work out to less than two percent, far below the rate of inflation.
Most municipal departments will see inflationary increases. The RM is funneling most of its additional tax revenue into the transportation services budget, which includes the public works department.
As the RM expands its recreation amenities and programming, four salaried positions are being removed from the transportation services budget and placed under the umbrella of recreation and cultural services.
Reserves and grants will pay for the entire $3.2-million capital projects budget, so borrowing won’t be required.
Projects include the completion of the new fire hall’s parking lot, a new pumper truck, machinery and equipment purchases, the upgrading of Gueret Road, trail development, and the completion of a new playground and outdoor rink.
An aeration system will be installed to extend the lagoon’s lifespan, the HyLife Centre will get a new ice plant, and a new sidewalk will be installed along Choiselat Street.