The town of New Glasgow tax rate will remain the same for residential and commercial taxes for the fiscal year 2014/15.
The residential rate remains at $1.82 per $100 of assessment and is at the same rate that was in effect 10 years ago. The commercial tax is $4.40 per $100 of assessment, which is the same as it has been for the last four years.
The annual solid waste uniform charge per dwelling unit for up to three units will increase $10 a year to $85 per residential dwelling. The town’s pollution control rate will increase from $4 per thousand gallons of water consumed to $4.10, which will affect the average household by about $4 per year.
For the fiscal year, 2014/15, the town of New Glasgow ill operate on a budget of $18.4 million.
Commenting on the tax rate and budget, Mayor Barrie MacMillan praised CAO Lisa MacDonald and other staff for their work at putting forward a frugal budget. He also expressed concern about the provincial residential tax cap which limits the amount a property’s assessment can be taxed each year.
“The cap on residential assessments, established by the Province continues to negatively impact municipal revenues and for the Town of New Glasgow this cap has resulted in the loss of potential revenue of $776,913 for fiscal 2014/15,” MacMillan said.