Sturgeon County’s proposed budget calls for a 6.1 per cent tax increase as the county faces lower revenue returns from several large industrial projects and increased debt payments.
The municipal property tax increase is part of the first glance county council received Friday for the 2011 budget. The figure will likely change as council begins to make amendments in upcoming budget meetings.
According to a report to council, the county’s budget is climbing in part because of lower commercial property tax revenues, which are responsible for 1.7 per cent of the increase.
Another 1.8 per cent of the jump is coming from increased debt the county took on last year for several major projects, which it now needs to start making payments on.
On a $410,000 home, the 6.1 per cent tax increase would mean an extra $73.65 per year and on a piece of farmland valued at $40,000 the increase means an extra $16.85 per year.
County council will begin further budget deliberations on Nov. 26 with further meetings set for Dec. 1 and Dec 3. Council is aiming to pass the budget sometime in mid-December.
A single per cent increase in the tax rate represents $332,000.
