Local residents will notice a slight increase in their taxes over the course of the next year after Bonnyville Town Council last week opted to up its 2015 tax rates by two per cent.
In presenting the second draft of the municipality's 2015 operating and capital budget at last week's council meeting, Director of Finance Renee Stoyles said the Town was looking at a deficit of $111,000 next year and presented three possible options to council regarding how best to address the shortfall.
Following much discussion and deliberation, council decided increasing its taxes by two percent, a move expected to rake in an additional $135,000 for the municipality in 2015, was the most prudent thing to do.
“I personally do not mind a two per cent tax dollar increase, I think that's very low,” Coun. Ray Prevost said at the meeting. “Salaries have gone up, we've got new subdivisions, new bills and our overall costs (have gone up), so implementing a two per cent increase is very reasonable in my opinion.”
He added, “I think there needs to be an increase. We cannot freeze our rates and keep it at zero. That indicates a community is not very progressive and I like to think we're pretty (progressive here in Bonnyville).”
Councillors Jim Cheverie, Lorna Storoschuk and Rene Van Brabant agreed with Prevost, stating a two per cent gave the municipality some additional wiggle room regarding its expenses, while at the same time ensured rates remained “reasonable” for local residents.
Coun. Nestor Kunec liked the idea of increasing taxes by a small amount each year rather than freezing the rates and then needing to make a larger jump in the future.
This marks the second straight year the municipality has upped its taxes, following a similar two per cent increase in 2014.
