Ashcroft residents will be looking at another tax hike this year if the Villages 2014/15 budget is finalized the way it is currently written.
On Monday night, Council gave its initial approval to the $5 million budget, which included a 3.5 per cent raise in residential taxes.
One-fifth of the revenue will be collected through property taxes. The Village is also expecting $1.9 million in accumulated surplus, and is anticipating $850,000 in grants and $700,000 in user fees and charges. The rest of the budget revenue will be made up through parcel taxes, Reserves and other means.
According to the town’s Five Year Financial Plan, $1.7 million will be spent under General Municipal, $110,062 for Fire Protection, $618,160 for Water Utility and $479,890 for Sewer Utility.
“Property taxes form the greatest propotion of revenue,” wrote staff in a report that accompanied the budget. “As a revenue source… it offes a stable and reliable source of revenue for services that are difficult to fund on a user-pay basis…. such as general administration, fire protection, police services, bylaw enforcement and street lighting.
“User fees and charges form the second largest portion of planned revenue…. Services where fees and charges can be easily administered include water and sewer usage, building permits, business licenses, and sale of services – these are charged on a user pay basis.”