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Thursday, June 20, 2019

Brockton's Tax Rate Has Changed

Brockton | by Robyn Garvey  

The tax rate is changing from a 2.84% increase to a 5.5% increase.

Brockton has a new tax rate that replaces the original one set in March.

In a 4 - 3 decision Brockton has revised its tax rate from a 2.84% increase
to a 5.5% increase.

Brockton had to reopen its budget after it discovered that its new 100 dollar
road levy per property fee that the original budget included was not permissible
by the Ministry of Finance.

The original road levy would have generated 443 thousand dollars for Brockton
which would have gone towards road infrastructure projects.

Because the Road Fee had to be withdrawn, Council had to revise the tax rate
for 2019.

In an effort to lessen the impact to the tax rate , Brockton put 223 thousand
dollars in new Gas Tax funding towards the roads infrastructure reserves.

Even with this additional funding, it was not enough to offset the lost
revenue from the road fee.

As such in a split vote, Brockton Council increased the original 2.84% tax
rate increase to 5.5%.

This comes as good news to some ratepayers and not so great news for
others.

Under the original 2.84% tax rate increase + the 100 dollar road fee, the
average home assessed at 237 thousand dollars would have paid an increase of 137
dollars in blended taxes.

Under the new tax rate of 5.5%, that same home assessed at 237 thousand
dollars will now pay an increase of 86 dollars in blended taxes.

This means the average home owner will pay 51 dollars less a year than what
they would have under the original 2.84% tax increase plus a 100 dollar road
fee.

Those with higher assessments however, will pay more than what they would
have been charged under the original budget that included the 100 dollar road
fee.

Deputy Mayor Dan Gieruszak was among the four councilors who voted in favour
of the new 5.5% tax rate.

With the elimination of the road levy, he says calls the 5.5 % tax rate
increase necessary in order to set aside much needed funds for Brockton's
future infrastructure needs.

Mayor Chris Peabody however opposed the 5.5% tax increase.

He would have preferred the municipality to tap into the 1 million dollar
windfall Brockton received in Provincial grant dollars following the original
budget to help offset the tax rate increase instead.

 

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