Costs rising faster than Ashcroft taxes

The Village of Ashcroft is raising taxes, but general costs are rising even faster.

Ashcroft Council gave first three readings to their Tax Rate Bylaw, 782, and also to their Budget, Bylaw 781. Both bylaws require one more reading before they are approved.

Ashcroft taxpayers are looking at another increase of 2.5 per cent, but treasurer Linda Howika says that will only amount to $370 in taxes collected, because of a decrease in property values for 2013. The increase will be approximately $18-$20 per home.

Council is anticipating that future tax increases will need to be larger in order to catch up to rising costs, and will be working on a strategy to reduce expenditures while maintaining core services.

Bylaw 782 sets the Residential tax rate at 4.1094 per $1,000 of taxable value, while business is 16.5477.

Ashcroft is looking at a $4.4 million budget that includes $1,021,325 in collected property tax and capital expenditures this year of $530,498.