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PETROLIA COUNCIL APPROVES 2019 BUDGET – SEWER RATES DOWN BY 5%, WATER RATES UP 2%, TAXES UP 1%


Posted: January 29, 2019

PETROLIA COUNCIL APPROVES 2019 BUDGET – SEWER RATES DOWN BY 5%, WATER RATES UP 2%, TAXES UP 1%

Petrolia – Council approved the 2019 Budget as presented at the Regular Council Meeting on Monday, January 28, 2019 at Petrolia Town Hall that will see a 1% tax rate increase (or $10 per every $100,000 of assessment) on the municipal portion of taxes for property owners.   Municipal Property Assessment Corporation (MPAC) determines the property assessment values across the province, and these are distributed every 4 years to residents.  This increase speaks to the commitment of staff to work as efficiently as possible.

Despite a few financial challenges for the upcoming year, the Town will be able to transfer approximately $1,162K into working capital reserves (up from 2018’s budgeted transfer of $856K). These funds are used to help fund the Town’s general capital purchases.

Part of the 2019 Budget, that passed at the regular meeting of Council last night, includes that sewer rates be reduced by 5%.  Water rates will see a small increase of 2%.  Chief Administrative Officer/Treasurer, Rick Charlebois said, “Staff have worked very hard to come up with a balanced budget addressing both the needs of the town and planning for the future of Petrolia.” 

Town general capital expenditures of $778K include a Parks & Recreation Master Plan, new Self-Contained Breathing Apparatus (SCBA) equipment for two fire trucks, a new transfer station (for yard waste), and road maintenance and reconstruction.

The Water capital program includes our $8M Water Treatment Plant project for which the Town received $7M in provincial grants.

The final approved 2019 Town of Petrolia Budget will be available on the Town’s website.

 

For more information:

Rick Charlebois

Chief Administrative Officer/Treasurer

Town of Petrolia

411 Greenfield Street

Petrolia, Ontario, N0N 1R0

Phone: (519)882-2350 Ext. 225 

E-mail: rcharlebois@petrolia.ca